Chennai, March 14 (IANS). India’s leading space-tech company Agnikul Cosmos on Saturday announced that Tamil Nadu Industrial Development Corporation has approved an investment of Rs 25 crore in the company. This investment is the first investment under TIDCO’s new Startup Investment Policy 2025.
The company is developing the world’s first single-piece 3D-printed rocket engine and end-to-end space transportation solutions. This investment makes it clear that the Tamil Nadu government is committed to directly supporting deep-tech startup companies in the state.
Under the leadership of Chief Minister MK Stalin, the Government of Tamil Nadu has consistently taken policy decisions that help in strengthening the industry and economic growth of the state. This investment is part of the government’s larger plan to strengthen the startup financing ecosystem in Tamil Nadu, thereby supporting emerging technology companies at key stages of their growth.
Srinath Ravichandran, Co-Founder and CEO, Agnikul Cosmos, said, “The government’s investment in deep-tech startups is the biggest signal that the government recognizes and supports indigenous technology developed in the country. Thank you to the Government of Tamil Nadu for encouraging us to work for the world in Tamil Nadu.”
This investment will accelerate Agnikul’s operations, enhance their aerospace manufacturing capabilities, advance the stage recovery program and strengthen the development of their Integrated Space Campus on 300 acres allotted by the government at Kulasekarapatnam.
COO Moin SPM said, “We have partnered with many suppliers, vendors and industries in Tamil Nadu and have contributed to technological development in the local community. This investment from the state government further encourages us to benefit the local community.”
Agnikul Cosmos has so far achieved several milestones in private space technology, including completing India’s first controlled-ascent private launch. Received patents for its patented technology in America, Europe and India. Preparations are on for the first orbital launch of its launch vehicle Agnibaan, which launches small satellites.
Plan to launch India’s first AI-powered orbital data centre, where space infrastructure will be given a new direction by converting rocket stages into orbital platforms.
–IANS
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