Chennai, March 14: India’s leading space-tech company, Agnikul Cosmos, announced on Saturday that the Tamil Nadu Industrial Development Corporation (TIDCO) has approved an investment of ₹25 crore in the company. This investment marks the first under TIDCO’s new Startup Investment Policy 2025.
The company is developing the world’s first single-piece 3D-printed rocket engine and end-to-end space transportation solutions. This funding clearly indicates the Tamil Nadu government’s commitment to directly supporting deep-tech startup companies in the state.
Under the leadership of Chief Minister M.K. Stalin, the government has consistently made policy decisions aimed at strengthening the state’s industry and economic development. This investment is part of a larger plan to enhance the startup financing ecosystem in Tamil Nadu, providing crucial support to emerging tech companies at key stages of their growth.
Srinath Ravichandran, co-founder and CEO of Agnikul Cosmos, stated, “The government’s investment in deep-tech startups is a significant indication that it recognizes and supports indigenous technology development in the country. We thank the Tamil Nadu government for encouraging us to work for the world from Tamil Nadu.”
This investment will accelerate Agnikul’s operations, enhance their aerospace manufacturing capabilities, advance their stage recovery program, and strengthen the development of their integrated space campus on the 300 acres allocated by the government in Kulasekarapattinam.
COO Moin SPM remarked, “We have partnered with several suppliers, vendors, and industries in Tamil Nadu and contributed to technological development in the local community. This investment from the state government further motivates us to benefit the local community.”
Agnikul Cosmos has achieved several milestones in private space technology, including India’s first controlled ascent private launch. The company has secured patents for its proprietary technology in the U.S., Europe, and India. They are preparing for the first orbital launch of their launch vehicle, Agnibaan, which is designed for small satellite launches.
Plans are also underway to launch India’s first AI-powered orbital data center, which aims to transform rocket stages into orbital platforms, providing new directions for space infrastructure.
–
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment