Manastu Space Raises $3 Million to Scale Green Propulsion
The fresh capital will be infused to support the commercial rollout of the company's green propulsion and debris-avoidance solutions for satellites
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Mumbai-based spacetech startup Manastu Space has secured $3 million in a funding round led by venture capital firm Capital‑A, with participation from Capital 2 B, Indian Angel Network (IAN), E2MC, the Bhagnani Family Office, and investor Jeet Chandan.
The fresh capital will enable the commercial rollout of Manastu’s green propulsion and debris-avoidance systems for satellites.
The funding will support the company’s efforts to advance its technology toward Technology Readiness Level 9 (TRL 9)—the stage where systems are proven for long-term operational use in space, ET Tech reported.
“This funding is mainly geared towards completing and reaching Technology Readiness Level 9 from TRL‑8,” said co-founder and CEO Tushar Jadhav.
Founded in 2017 by Jadhav and Ashtesh Kumar, Manastu Space specializes in environmentally friendly propulsion systems. Its flagship design, VYOM 2U, was test-fired aboard the PSLV C‑60 rocket in December 2024. The system uses non-toxic propellants as an alternative to conventional chemical or electric options.
The company is also building in-orbit servicing capabilities, including satellite refueling, safe deorbiting, and mission-life extension technologies that enable satellite reuse and help mitigate space debris.
Manastu already has contracts with the Defense Research and Development Organisation (DRDO), Latitude (a French startup), and iDEX—India’s defense innovation agency.
With the new funding, the startup plans to expand operations in the US, Europe, and Asia, targeting satellite manufacturers, constellation operators, and service integrators.
The round also followed earlier investor support, including from IAN, Capital 2 B, BIG Capital, and E2MC in earlier pre-Series A and seed rounds.
