Spacetech Startup Cosmoserve Nets $6 Mn, Eyes Commercialisation By 2028

Cosmoserve Space secured $6 million in seed funding from Japan-based Rebright Partners, with additional contributions from Aranya Holdings, Naandi Ventures, AUM Ventures, and Shakti VC. The startup will use the capital for tech demonstrations, two upcoming missions, and to bolster its recently opened Hyderabad facility. Founder Chiranjeevi Phanindra revealed the company had raised over $9 million since its inception last year, and its valuation doubled after September's pre-seed funding round.

Cosmoserve focuses on removing defunct satellites and orbital debris from space, aiming to reduce collision risks for operational spacecraft. The startup recently tested its soft robotic capture system aboard Skyroot Aerospace’s Vikram-1 rocket, though the robotic petals failed to deploy. Cosmoserve is now addressing thermal mechanism issues and preparing for Embrace-2, an upgraded mission launching soon.

The company also plans to achieve a world record by approaching a dead satellite within 10 meters and has secured letters of intent from satellite constellation operators in the US, Europe, and India. Cosmoserve's new facility, Base 1 in Hyderabad, is India's first private and the world's sixth space debris removal facility, equipped with space vision effects and microgravity simulation capabilities. The startup aims to complete tech demos by 2027 and commence commercial operations by 2028.