2 Bengaluru firms, 1 from Hyderabad, picked for IN-SPACe Tech adoption fund support

BENGALURU: Space regulator-cum-promoter Indian National Space Promotion and Authorisation Centre (IN-SPACe) has selected three Indian space startups for the first round of funding under its Technology Adoption Fund (TAF) scheme, backing projects ranging from reusable rocket engines and AI-driven Earth observation (EO) tools to systems that help satellite positioning.The selected companies — Bengaluru-based Astrobase Space Technologies and SatSure Analytics India and Hyderabad-based TM2SPACE Technologies — emerged from a multi-stage evaluation process involving experts from Isro, the Department for Promotion of Industry and Internal Trade (DPIIT), DST, industry bodies, academic institutions and IN-SPACe.Astrobase Space will develop an 800 kN-class reusable liquid oxygen-liquid natural gas (LOX-LNG) closed-cycle rocket engine for future medium- and heavy-lift launch vehicles. The company said the modular propulsion system is intended to support next-generation commercial launch services and orbital missions.SatSure Analytics will build “Dhaarini”, a large EO model designed as an artificial intelligence platform for analysing satellite and aerial imagery. The platform is expected to generate insights for sectors such as agriculture, infrastructure planning and disaster management.TM2SPACE Technologies will develop indigenous AI-powered star trackers, critical systems that help satellites determine their orientation in space with high precision. The company plans to develop two variants: “StarSense Lite” for CubeSats and “StarSense Pro” for satellites weighing more than 50 kg.“The selection marks a pivotal step in our mission to transform Indian private entities into global space leaders,” IN-SPACe chairman Pawan Goenka said. He added that the fund aims to bridge the gap between early-stage development and commercial success by supporting market-ready technologies.IN-SPACe director (technical) Rajeev Jyoti said the projects address critical technology gaps and have the potential to strengthen India's space capabilities. As per IN-SPACe the TAF scheme is designed to help Indian companies absorb, adapt and commercialise advanced space technologies through financial assistance, technical guidance and milestone-linked funding support.TAF has been instituted with a total funding of Rs 500 crore. Wherein, partial funding will be offered to work towards transforming early-stage technologies into commercially viable product. The funding would be up to 60% of the project cost for startups/MSMEs and 40% for large industries. However, the maximum funding which can be offered for a project will be capped at Rs 25 crore.Any intellectual property developed under this scheme will be owned by the company. However, any licensing of the IP will require prior approval of IN-SPACe.