Former ISRO Scientist’s Venture Cosmoserve Bags $3.17 Mn To Remove Space Debris

Former ISRO scientist Chiranjeevi Phanindra-led spacetech startup Cosmoserve Space has raised $3.17 Mn (INR 28.11 Cr) in its pre-seed funding round led by angel investor Alan Rutledge via US-based investment firm AVCF.

The maiden funding round also saw participation from AUM Ventures, Shakti VC and one of the earliest Google investors Ram Shriram.

Founded earlier this year and incubated at T-Hub in Hyderabad, Cosmoserve is building autonomous robotic spacecraft to approach debris in space and pull them to lower altitudes for safe disposal.

Founder Phanindra was also a deputy director of India’s Gaganyaan Mission. Having represented India at the Inter-Agency Space Debris Coordination Committee, which comprises 13 space agencies, Phanindra understood the importance of removing space debris. It is from there that he got the idea to launch a venture to address this problem. 

Speaking about the fundraise, the founder told Inc42 that the capital will be used to strengthen the startup’s team and build facilities to do testing on-ground. “Eventually, we will be launching in space to do an in-space demonstration by the end of next year,” he added. 

Explaining the process of removal of debris, he said that the capacity of satellite removal depends on the fuel capacity of the robotic spacecraft. To increase this capability, the startup plans to place a refuelling depot in space, called the mothercraft. The spacecraft can refuel there before proceeding to the next target. 

The founder explained that the robotic spacecraft and the mothercraft can together remove 100 satellites from space, making it highly cost-effective. 

“Cosmoserve is training to remove any space junk, irrespective of the size and shape. Even if it is a non-cooperative object or an unprepared target, we’ll be able to remove it,” Phanindra said.  

With the rise of space debris, several spacetech startups are working on removing them or developing innovative solutions to tackle them. Last year, InspeCity signed an MoU with Japanese startup Orbital Lasers to explore laser-based solutions for removing space debris.

Spacetech startup Manastu, which is developing a green propulsion system for satellites, coupled with its in-orbit refuelling system and debris avoidance technology, bagged $3 Mn in August this year.

Behind the rise of these Indian spacetech startups are the steps taken by the Centre to liberalise regulations and open the sector for private players. The Centre has also launched INR 1,000 Cr VC fund to give further boost to the spacetech sector.