Angel Investments
Space-tech startup Manastu raises $3-M
Mumbai-based Manastu Space, a space-tech company, has attracted USD 3 million in a pre-Series A funding round. Indian Angel Network (IAN) investors KRS Jamwal, Executive Director of Tata Industries, Jaideep Mehta, Sanjiv Bajaj and Nitin Zamre, participated in the funding round. Manastu will use the funds to develop its green propulsion system for satellites, ranging from 100 kg to 500 kg. Manastu hopes to validate its technology during a test flight in the coming year. The company is also designing a fuel station in space to provide in-orbit refuelling service for satellites which otherwise have to be abandoned after the on-board fuel is exhausted.
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