Representative Image Space technology startup Agnikul has raised Rs 23.4 crore in pre-series A funding led by Pi Ventures, as it looks to develop a satellite launch vehicle with a payload capacity of up to 100 kgs. The funding round also saw participation from Hari Kumar of LionRock Capital, Artha Ventures, LetsVenture, Globevestor, IIM-Ahmedabad’s CIIE and existing investor Speciale Invest.Agnikul, which is operating out of the National Centre for Combustion Research at IIT Madras, said it will utilise the funding to facilitate ground testing, fabrication and expansion of its team.

— The Economic Times

Saakshya Law Advocates & Solicitors advised Space technology entity, Agnikul Cosmos Private Limited, and its promoters Srinath Ravichandran and Moin S P M.;; led by a team of partner Siddharth Raja and associate Monica Umesh.

Anoma Legal advised Pi Ventures.

2020-03-18

Deal value: Rs 23.4 Crores; $3.2m

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