1 month ago
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Space startup Avantel Limited has received a acquisition bid valued astatine ₹11.59 crore (excluding taxes) from NewSpace India Limited (NSIL), the commercialized limb of the Indian Space Research Organisation (ISRO), for the supply, installation, and commissioning of MSS Terminals (Xponders).
The bid is scheduled for execution by October 2026. The startup said that this bid further strengthens its publication to India’s increasing abstraction ecosystem, peculiarly successful the domain of outer connection infrastructure.
“The engagement highlights the company’s continued absorption connected delivering high-reliability, indigenously developed solutions aligned with nationalist initiatives specified arsenic Make successful India and Atmanirbhar Bharat, aimed astatine enhancing self-reliance successful captious technologies,” it said.
Siddhartha Abburi, director, Avantel Limited, said, “We are pleased to person this bid from NewSpace India Limited, which reflects continued spot successful Avantel’s capabilities successful delivering precocious connection solutions. This engagement reinforces our committedness to supporting India’s abstraction assemblage with robust, high-performance, and indigenous technologies that conscionable stringent operational requirements.”
Another startup, SatLeo Labs, has raised $2.2 cardinal successful a effect circular led by Unicorn India Ventures. With this, SatLeo has raised $5.5M successful full backing to date.
The circular besides saw information from existing investors Merak Ventures, Java Capital, IIMA-CIIE, and Deep Tech Investor Manish Gandhi. The backing volition beryllium deployed to beforehand SatLeo’s flagship thermal outer ngo and make its AI-powered level for thermal quality applications.
The institution has besides begun translating its exertion into real-world deployments done commercialized aviator projects, including municipality vigor land and air-pollution monitoring initiatives with cities specified arsenic Ahmedabad and Tumakuru, impacting much than 400,000 citizens.
Additionally, the institution has built a beardown commercialized pipeline, with Letters of Intent (LOIs) increasing from astir $15 cardinal to implicit $42 cardinal wrong the year, reflecting beardown marketplace request for SatLeo’s space-based thermal quality solutions.
