SpaceTech startup OrbitAID raises $1.5 Million in Pre-Seed round led by Unicorn India Ventures 

·  Round also saw participation from TANSIM (Government of Tamil Nadu) 

·  OrbitAID is focused on advancing sustainable space operations through innovative on-orbit refueling solutions 

·  The Company is developing a cutting-edge fuel station in space, designed to extend the lifespan of satellites by enabling efficient refueling and maintenance 

·  In the last 12 months, the company has achieved Technology Readiness Level (TRL) 7 for docking and refuelling tests, successfully completed micro-gravity testing for mission-critical components and secured significant partnerships and collaborations 

·   Funds raised will be used to conduct an in-space demonstration of docking and refuelling operations, expand facilities for on-orbit servicing operations, advance SIDRP (Standard Interface Docking and Refueling Port) to commercial readiness and scale team capabilities to align with upcoming projects. 

·   OrbitAID has newly launched SIDRP (Standard Interface Docking and Refueling Port), a patented solution for seamless on-orbit satellite servicing.  

Chennai based Space Tech startup OrbitAID has raised $1.5 Million in a pre-seed round led by Unicorn India Ventures. The round also saw participation from TANSIM (Government of Tamil Nadu). OrbitAID plans to use the funds raised to conduct an in-space demonstration of docking and refuelling operations, expand facilities for on-orbit servicing operations, advance SIDRP (Standard Interface Docking and Refuelling Port) to commercial readiness and scale team capabilities to align with upcoming projects. 

Founded in 2021 by Sakthikumar R, Nikhil Balasubramanian and Mano Balaji K, OrbitAID is an Aerospace company that is focused on advancing sustainable space operations through innovative on-orbit refueling solutions and is actively forging ahead to create a network of cutting-edge fuel stations in space that are strategically positioned in various orbits. OrbitAID aims to increase the lifespan and functionality of satellites that will reduce space debris and enhance the long-term viability of space infrastructure with their product Standard Interface Docking and Refueling Port (SIDRP), which will elevate the accessibility and reliability of satellite refueling operations to unprecedented levels. 

The Company has recently tested its patented SIDRP on a zero gravity flight in Florida successfully. This test has further validated SIDRP’s capabilities for on-orbit mission critical steps including docking, refueling and proximity operations. This successful demonstration is a major milestone in SIDRP’s precision and accuracy in simulated space conditions taking the company a step closer to their mission of disrupting the outer space market.  

In the last 12 months, the company has achieved Technology Readiness Level (TRL) 7 for docking and refuelling tests and secured significant partnerships and collaborations. 

Commenting on the investment, Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, says, “As a deep tech focused investor, emerging technologies within space tech, drones and IoT are of massive interest to us. We believe highly innovative businesses in space tech will lead India’s journey of global dominance beyond the confines of our planet. OrbitAID has been working tirelessly in that direction to meet the growing demand of a robust refuelling ecosystem in space for the efficient utilisation of spacecraft resources. The funding will help the company in expanding facilities for on-orbit servicing operations and scale the SIDRP product to an advanced stage. Hence, we believe the market opportunity is huge and the company has built the right momentum to not only capitalise on this segment but be the market leader as well.” 

OrbitAID plans to expand and establish advanced facilities to further the development of its on-orbit servicing technologies. The company is also looking to grow its team and enhance the product portfolio with new innovations for sustainable space missions. 

Sakthikumar R, Founder and CEO, OrbitAID Aerospace, says, “We are excited to have secured funding from Unicorn India Ventures and TANSIM. This milestone not only validates our vision but also reflects the dedication of our team in advancing sustainable space operations. With this funding, we will conduct our in-orbit demonstration in space for docking and refueling, bringing us closer to revolutionizing satellite servicing and ensuring a sustainable future in space.” 

In the next 12 months, OrbitAID will conduct in-orbit demonstrations of docking and refueling to validate technology and operational readiness.  

OrbitAID also aims to achieve TRL 6 for the refuelable propulsion system, enhancing its readiness for deployment and secure a refueling contract from government or private space companies, establishing commercial viability.  

Nikhil, Co-founder and COO, OrbitAID Aerospace, says,”This funding is a significant step forward for OrbitAID. It enables us to bring our cutting edge technologies, like SIDRP, to the forefront of space innovation. The upcoming in-orbit demonstration will showcase our team’s dedication to advancing sustainable and efficient satellite servicing solutions.” 

According to All India Association of Industries Defence and aerospace continues to be a strong pillar for India and key government systems such as Make in India to succeed. It is projected to reach ~US$ 70 billion by 2030, driven by the burgeoning demand for advanced infrastructure and government thrust. This shows a massive potential for OrbitAID to grow and be the market leader in this segment. 

About Unicorn India Ventures 

Started in 2016 by Bhaskar Majumdar and Anil Joshi, Unicorn India Ventures is a technology focused early-stage venture fund that invests in emerging and visionary startups. Unicorn India Ventures launched its first fund with a corpus of Rs 100 crore and invested in 17 companies like SmartCoin, Open Bank, Sequretek, Pharmarack, Genrobotics, Clootrack, FutureCure to mention some. The Fund has emerged as the best performing early stage fund in India with the stellar exits provided by the fund to its LPs. 

Fund II is a Rs 300 Cr fund launched in 2020 that has invested in 20 companies so far like Gamerji, Probus, Daalchini, Windo, HiWi. Most of the portfolio is scaling up fast and has had several uprounds. 

Unicorn India Ventures is closing its Rs 1000 Cr Fund III. The first close was reached at Rs 225 crore. The Fund is expected to reach its final close this year.  With this Fund, UIV aims to build a portfolio of 20 startups that are focused mostly in the deep tech sector that includes semiconductor, space tech, and medical diagnostics apart from SaaS and India digital platforms. Unicorn has already made 11 investments from this fund and includes companies like Netrasami, Qubehealth, Orbitaid, Aurasure amongst others. 

About OrbitAID 

OrbitAID Aerospace Pvt Ltd is a pioneering Indian startup focused on advancing sustainable  space operations through innovative on-orbit fueling solutions. The company is developing a cutting-edge fuel station in space, designed to extend the lifespan of satellites by enabling efficient refueling and maintenance. With its patented Standard Interface Docking and Refueling Port (SIDRP), OrbitAID aims to ensure sustainable satellite operations, reduce space debris, and enhance the long-term viability of space infrastructure. Supported by investors like TANSIM and Unicorn India Ventures, OrbitAID’s solutions cater to both commercial and defence sectors, positioning the company as a leader in sustainable space technology.