Bellatrix Aerospace, a Bengaluru-based in-space propulsion business, closed a US $8 million fundraising round on June 1, 2022, headed by BASF NSE 1.08 percent Venture Capital GmbH, BASF SE’s corporate venture arm, and early-stage VC Inflexor Ventures.
StartupXseed, Pavestone Capital, Survam Partners, Karsemven Fund, the Mankind Pharma family office, and other prominent family offices and angel investors participated in the investment round.
Bellatrix will use the capital to grow its product line, develop existing products, hire personnel, and improve its infrastructure.
Bellatrix will also use the cash to transform into a space transportation technology company, expanding its offerings to include orbital transfer vehicles.
What the founder has to say:
According to Bellatrix CEO and CTO Ganapathy, the investment will help the company expand its product line and add more people to widen its expertise, as well as “improving our state-of-the-art infrastructure and focusing on validation of our products in space.” The Bellatrix investment is an entry at the ideal time for the principal investor: “This business is currently seeing an unparalleled upturn in India in particular,” says Markus Solibieda, MD of BASF Venture Capital GmbH.
What the investors have to say:
Venkat Vallabhaneni, managing partner, Inflexor Ventures:
“We envision the space business increasing dramatically. Bellatrix’s cost-effective and power-efficient thruster systems, suited for small satellite producers, will play a vital role in democratizing access to the space industry.”
B V Naidu, Managing Partner, StartupXseed Ventures:
“We regard them as a key player across Eurasia as a Deep Technology fund and as one of the early sponsors of Space Tech through Bellatrix.”
About the company:
Bellatrix is a chemical and electric propulsion technology company formed in 2015 by Rohan Ganapathy and Yashas Karanam. It operates a large satellite propulsion research laboratory at SID-IISc. It also has a substantial IP portfolio in these fields.
Bellatrix is active in the high-growth fields of in-space propulsion and orbital transfer vehicles. An increase in the frequency of satellite launches has fueled demand for green technologies and cost-effective satellite placement.
The cash will be used for the company’s 4-thruster modules, which are expected to hit the market by the end of the year. Bellatrix also announced that it had secured contracts with ISRO and other clients. “The funds will also go toward the company’s evolution into a full-fledged space transportation technology company, with its unique Orbital Transfer Vehicle capable of quickly deploying customer satellites to their orbits and performing missions to geostationary orbit (GEO) and beyond,” according to the press release.
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