Building a ‘jetpack’ for satellites; Sharp rise in VC inflow

In the ever-expanding universe of satellite technology, Bengaluru-based deeptech startup Aule Space is pioneering a novel solution to extend the lifespan of geostationary satellites. The company's groundbreaking "jetpack satellite" concept docks with fuel-depleted geostationary satellites, providing additional propulsion to potentially double their operational life.

With an estimated 20-25 privately owned geostationary communication satellites running out of fuel each year, Aule Space aims to tap into a lucrative market expected to reach $5.5 billion by 2030.

Founded by former Pixxel engineer Jay Panchal, Aule Space has made significant strides, raising $2 million in pre-seed funding and achieving a technology readiness level (TRL) of 6 after successful validation at Indian Space Research Organisation (ISRO) facilities. The startup is set to demonstrate autonomous docking in orbit next year and is actively seeking commercial contracts following an orbital demonstration.

Meanwhile, venture capital funding in the Indian startup ecosystem showed a rebound in August, with a substantial influx of $323 million across 25 deals in the first week alone. While large-ticket deals remain limited, with only ten $100 million-plus transactions recorded this year, Series A startups attracted $64 million in funding, indicating strong investor interest beyond late-stage companies.

Other notable developments include Amazon's plans for a natural gas power plant at its Texas data center, which could become the largest permitted source of climate pollution in the US, and Myspace's potential comeback nearly two decades after losing its dominant position to Facebook.