InspeCity Raises $1.5 Million Pre-Seed Funding From Speciale Invest The funding will be channelized to develop the tech stack within the company and attract quality talent to accomplish the mission and vision
By Teena Jose
Opinions expressed by BIZ Experiences contributors are their own.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
InspeCity, a space tech startup, has raised $1.5 million in a pre-seed funding round led by Speciale Invest, a deep-tech venture capitalist. The round was co-led by Antler India and Veda VC. Other investors participating in the round include Anicut Capital, DeVC India and others. According to the company's official statement, the recent pre-Seed funding is a clear indication of the growing support for InspeCity's mission to build advanced autonomous robotic platforms for in-space servicing. It will also be channelised to develop the tech stack within the company and attract quality talent to accomplish the mission and vision.
"We are grateful for the support of our investors as we pursue our mission to build the first city in space. This will tremendously help us further develop our technology for in-orbit servicing and autonomous robotic platforms. Our vision is to create a new economy in space and build human habitats that transcend the limitations of our current planetary systems. We are excited to have our investors join us in this journey towards the future of space exploration and development," said Arindrajit Chowdhury, CEO, Inspecity.
Inspecity has raised INR 15 million grant from the iDEX platform for the development of micropropulsion systems for cubesats. The company has received a grant of INR 1 million from TIH Foundation at IIT Bombay for technological support to develop an inter-satellite link. With its focus on developing innovative solutions for in-space servicing and building large-scale human habitats beyond the constraints of current planetary systems, InspeCity is poised to make a lasting impact in the space industry, claimed by the company in the statement.
"We are very excited to support InspeCity's ambitious mission to build cities in space. The company's innovative technology, particularly its autonomous robotic platforms and in-orbit servicing capabilities, holds promise for the future of space exploration and development. We have immense confidence in InspeCity's ability to achieve its goals and are proud to be part of its journey. We look forward to collaborating with the team and backing them to their success," said Vishesh Rajaram, managing partner at Speciale Invest.
Founded in mid-2022, InspeCity has a mission to build the first city in a suitable orbit between earth and the moon, addressing the problem of resource scarcity on earth.
