Deeptech startup SpaceFields raises $5 million from Globaz Technologies, others

Deeptech startup SpaceFields has raised $5 million in a funding round co-led by Globaz Technologies Pvt. Ltd, Rockstud Capital and Venture Catalysts.

The round also saw Nithin Kamath’s Rainmatter, Burla Angel Network, Faad Capital, Sidbi, O2 Angels, and Meity Startup Hub, among others, participate.

The company said it will use the funds to scale up manufacturing, secure key regulatory certifications, and expand its engineering, operations, and other teams.


The startup had raised about $1.3 million in seed funding last year.

Founded in 2021 by Apurwa Masook, Rounak Agrawal, and Sudarshan Samal, the Bengaluru-based startup designs and manufactures rocket propulsion systems for both civilian and military use, covering aerospace, defence, and space applications.

“Solid propulsion is a core enabler of defence and space missions, as also evident in our diverse cohort of customers such as the Armed Forces, DPSUs, DRDO, tactical drone companies, and several aerospace OEMs in need of bespoke custom developed solid-fuel powered systems,” said Masook.

The company has applied for ten patents, of which five have already been granted for its proprietary technologies.

Commenting on the investment, Abhishek Agarwal, managing partner of Rockstud Capital, said, “SpaceFields is positioned in a differentiated white space, bringing in-house developed, IP-led innovations to a sector that has seen limited private innovation so far.”

“In just four years, the team has transformed rigorous research into patent-backed solid-propulsion platforms that can strengthen our armed forces, serve the new space economy, and catalyse an entire supply chain of precision engineering,” added Apoorva Ranjan Sharma, cofounder and managing director of Venture Catalysts.

India's space sector is poised to reach $40 billion by 2040, as per reports. Several spacetech startups have raised capital in recent months.

Last month, Bengaluru-based Xovian Aerospace raised $2.5 million in a funding round led by Piper Serica and Turbostart. Similarly, Manastu Space, another spacetech startup, raised $3 million in a round led by venture capital firm Capital-A.