Indian space startups have attracted over ?1,000 crores of private investment since April in 2023 Country has the potential to reach a 100 billion USD space economy by 2040.
So far, the Indian Space Research Organisation (ISRO) has launched over 430 foreign satellites with more than 290 million euros as earnings from European satellites and over 170 million USD from American satellites.
in June this year Alphabet, the parent company of Google, had announced $36 million of investment in Bengaluru-based space startup, Pixxel. It was the first major investment in the Indian space sector after the privatization policy of the Indian government in April.
Citing the application of satellites and drones in mapping land ownership under the SVAMITVA scheme and Face Recognition Technology for DLC, Union Minister Dr Jitendra Singhsaid said our Chandrayaan Mission was the first to discover evidence of water on the Moon.
- India has witnessed investment of over Rs.1,000 crore in Space Startups in last nine months of the current financial year from April to December 2023.
- About 350 Startups in the year 2014, India has about 1,30,000 Startups, besides Unicorns.