News Details

https://www.electronicsb2b.com/headlines/indian-space-technology-startup-vestaspace-receives-10-million-funding/

  • VestaSpace Technology specialises in making small satellite platforms for commercial and scientific applications
  • VestaSpace was founded in 2018 by Astronautical engineer Arun Kumar Sureban

Indian space technology startup VestaSpace Technology, which specializes in making small satellite platforms for commercial and scientific applications, has received $10 million in funding from American investment and advisory firm Next Capital LLC.

“Our association with Next Capital LLC began with my stay in the US for a project and has culminated into a promising financial deal that was cracked in April,” informed Arun Sureban, founder, VestaSpace.

Already working with ISRO

VestaSpace was founded in 2018 by Astronautical engineer Arun Kumar Sureban as an off-beat venture to help startups and mid-size businesses access the benefits of using small satellites, satellite communication, sensors, and connected devices.

The firm is capable of building small satellite platforms for applications such as technology demonstration, communications, and earth observation missions, among others. It has already been working with ISRO and has aggressive strategic plans to expand globally.

“This deal is going to be a great financial booster for VestaSpace Technology and will allow us to expand and scale up our operations and expand our footprint globally,” added Sureban.

He has worked on a series of CubeSat and Nanosatellite projects through the venture is optimistic that the funding will enable the startup to scale up significantly and estimates a growth boost of up to 300 percent based on the funding, the cultivation of a strong global network and the acquisition of ground stations.

Source: https://www.electronicsb2b.com/