Space tech startup InspeCity has secured $1.5 million in a pre-seed funding round co-led by Speciale Invest, Antler India and Veda VC. The funding round also witnessed participation of Anicut Capital, DeVC and others.
The proceeds will be utilised to help the company to demonstrate its technology for in-orbit servicing by showing that a defunct satellite can be docked with vehicle for life-Extension and Deorbiting Activities (VEDA) on an air-bearing platform, InspeCity said in a press release.
Founded in 2020, InspeCity is building Earth 2.0 in near-earth space. In the near term, the engineers of InspeCity are creating a fleet of vehicles for life-Extension and Deorbiting Activities (VEDA), equipped with Robotically Inserted Guidance systems (RIG) to cater to satellite-servicing, active debris removal, and satellite-deployment in all orbits. In the long term, the extensive fleet of RIG-equipped VEDAs will be leveraged to build innovative large-scale human habitats in space, free from the tyranny of solar-planetary environments.
InspeCity claims that its technology and long-term vision are well-suited to meet the increasing demand for non-GEO satellite constellations, making it an important player in the growing space.
Previously, InspeCity raised a Rs 1.5 crore grant from the iDEX platform for the development of micropropulsion systems for cubesats and Rs 10 lakh from TIH Foundation at IIT Mumbai for technological support to develop an inter-satellite link.