Mumbai-based spacetech startup InspeCity has raised $5.6 million (approximately ₹46 crore) in a Seed funding round led by renowned investor Ashish Kacholia. The round also saw participation from key venture firms including Speciale Invest, Shastra VC, Antler India, DeVC, MGF-Kavachh, and Anicut Capital.
This latest round follows InspeCity’s $1.5 million pre-seed raise in April 2023, which was also led by Speciale Invest.
Founded at IIT Bombay, InspeCity is Building Next-Gen ISAM Solutions
InspeCity, founded by Arindrajit Chowdhury, a professor at IIT Bombay, is pioneering advancements in in-space servicing, assembly, and manufacturing (ISAM). The company focuses on developing technologies that extend satellite life and improve space operations, including propulsion, rendezvous and proximity operations, and docking (RPOD) capabilities.
Funding to Support R&D and Upcoming VEDA Demo Mission
The newly acquired funds will be used to boost R&D efforts and scale InspeCity’s flagship platform, VEDA (Vehicle for Life Extension and De-orbiting Activities). VEDA is a fully integrated life-extension solution designed for in-orbit servicing and satellite decommissioning. The platform is expected to undergo a demo mission in 2027.
InspeCity Eyes Global and Regional Growth with Competitive Offerings
InspeCity is positioning itself as a cost-effective alternative to global ISAM providers. To expand its technology footprint, the company has signed a Memorandum of Understanding (MoU) with Japan’s Orbital Lasers to explore laser-based space debris removal solutions.
While established space markets in the US and Europe remain a core focus, InspeCity also aims to tap into growing opportunities across Southeast Asia and West Asia.
Tapping Into the $14 Billion ISAM Market
The global ISAM (In-Space Servicing, Assembly, and Manufacturing) market is projected to reach $14 billion by 2030. InspeCity plans to carve out a strong presence in this sector by offering innovative, scalable, and cost-efficient space solutions.
With this funding, InspeCity is set to strengthen India’s position in the global spacetech ecosystem while driving forward the next generation of satellite servicing technologies.