Manastu Space Raises $3 Mn to Boost Sustainable Space Technologies

Mumbai-based Manastu Space Technologies secured $3 million in an extended Series A funding round to expand its sustainable propulsion and in-orbit refuelling technologies. The round was led by VC firm Capital-A, marking its first investment in a space-tech company.

Tushar Jadhav, co-founder and CEO of Manastu Space, said, “With our green propellant already demonstrated in orbit and key systems for in-orbit refuelling under development, we are well prepared to build the infrastructure required for sustainable space operations.”

Existing investors, including Capital 2B, IAN, E2MC, the Deepak Bhagnani family office, Jeet Chandan, and several angel investors, also participated in the funding round. 

The company intends to use the new funds to accelerate the commercial rollout of its green propulsion system and debris-avoidance solutions. This will be integral to its ongoing development of satellite refuelling, deorbiting, and mission life extension technologies.

Expansion Plans and Market Demand

Manastu aims to expand its global presence in the United States, Europe, and Asia, engaging with satellite OEMs and constellation operators. 

According to IN-SPACe, India’s private space economy is expected to grow from $8 billion in 2022 to $40 billion by 2040, highlighting the strong growth potential of the sector.Capital-A’s founder and lead investor, Ankit Kedia, noted, “Manastu’s focus on solving a specific challenge in satellite propulsion with a scalable solution stood out. Their successful in-orbit demonstration gives them a clear advantage.”