Spacefields: Spacetech startup for propulsion systems Spacefields raises first institutional funding

The startup – supported by the governments of India, Karnataka, Odisha and incubated at the Indian Institute of Science (IISc), Bengaluru – custom-designs and manufactures turnkey solid rocket propulsion systems for aerospace, defence and space applications.

Spacefields was founded in 2021 by Apurwa Masook, Sudarshan Samal and Rounak Agrawal, the trio who set up India’s first student rocketry team – VSSUT Satellite Launch Vehicle (VSLV) at Veer Surendra Sai University of Technology, (VSSUT) Burla, Odisha.

The team incubated the idea of Spacefields at FSID IISc, and was supported by the aerospace engineering department. It had unveiled and tested India’s first aerospike rocket engine in 2023. It has also filed six patents on technologies developed in-house.

The seed funding round also saw participation from angel investor networks such as Vinners and Burla Angels and former L&TTS managing director and CEO Keshab Panda, Bharat Forge CEO Guru Biswal, Zuari Industries managing director Athar Shahab, Emaar India CEO Kalyan Chakrabarti among others.

The Bengaluru-based startup has also received grants support from Startup India Seed Fund, Boeing India, and the governments of Karnataka and Odisha. The fresh capital will be used towards development and testing of critical hardware and various subsystems, research and development in energetic materials and to expand the company’s team, founder and CEO Masook told ET.

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SpaceFields said it plans to double its team in the coming months to fill roles in functions such as aerospace and mechanical design, chemical and propulsion, avionics. The current team strength is 12, Masook added.“Our pilots and collaborations span a diverse cohort of customers such as Defence Research and Development Organisation, Indian Space Research Organisation, tri-services, defence public sector undertakings like Hindustan Aeronautics Limited, tactical drone companies, and several aerospace original equipment manufacturers who are in need of custom-developed solid-fuel powered systems,” Masook said.

The development comes a week after the government of India amended its Foreign Direct Investment policy to allow 100% FDI in the space sector to create liberalised entries for international investors in the sector.

“We backed the team at SpaceFields as we saw their drive to rise to a challenge in the manufacturing of solid fuel propulsion systems that will be applicable to various platforms such as rockets and drones alike in the years ahead, in a potential winner-takes-all market,” Siddharth Jain, cofounder at HVB 88 Angels, said.

The startup – supported by the governments of India, Karnataka, Odisha and incubated at the Indian Institute of Science (IISc), Bengaluru – custom-designs and manufactures turnkey solid rocket propulsion systems for aerospace, defence and space applications.

Spacefields was founded in 2021 by Apurwa Masook, Sudarshan Samal and Rounak Agrawal, the trio who set up India’s first student rocketry team – VSSUT Satellite Launch Vehicle (VSLV) at Veer Surendra Sai University of Technology, (VSSUT) Burla, Odisha.

The team incubated the idea of Spacefields at FSID IISc, and was supported by the aerospace engineering department. It had unveiled and tested India’s first aerospike rocket engine in 2023. It has also filed six patents on technologies developed in-house.

The seed funding round also saw participation from angel investor networks such as Vinners and Burla Angels and former L&TTS managing director and CEO Keshab Panda, Bharat Forge CEO Guru Biswal, Zuari Industries managing director Athar Shahab, Emaar India CEO Kalyan Chakrabarti among others.

The Bengaluru-based startup has also received grants support from Startup India Seed Fund, Boeing India, and the governments of Karnataka and Odisha. The fresh capital will be used towards development and testing of critical hardware and various subsystems, research and development in energetic materials and to expand the company’s team, founder and CEO Masook told ET.

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SpaceFields said it plans to double its team in the coming months to fill roles in functions such as aerospace and mechanical design, chemical and propulsion, avionics. The current team strength is 12, Masook added.“Our pilots and collaborations span a diverse cohort of customers such as Defence Research and Development Organisation, Indian Space Research Organisation, tri-services, defence public sector undertakings like Hindustan Aeronautics Limited, tactical drone companies, and several aerospace original equipment manufacturers who are in need of custom-developed solid-fuel powered systems,” Masook said.

The development comes a week after the government of India amended its Foreign Direct Investment policy to allow 100% FDI in the space sector to create liberalised entries for international investors in the sector.

“We backed the team at SpaceFields as we saw their drive to rise to a challenge in the manufacturing of solid fuel propulsion systems that will be applicable to various platforms such as rockets and drones alike in the years ahead, in a potential winner-takes-all market,” Siddharth Jain, cofounder at HVB 88 Angels, said.