Funding details
Mumbai-based spacetech startup Manastu Space has announced a ₹22 Cr ($2.3 Mn) raise in an ongoing funding round. The round was led by Gandhi Securities and Investments and the Thacker Legacy Trusts, with participation from a clutch of angel investors.
Separately, the Technology Development Board (TDB) under the science and technology ministry recently announced a commitment of ₹116 Cr to Manastu in the form of optionally convertible debentures.
Green propulsion and space safety technology
Founded in 2017 by Tushar Jadhav and Ashtesh Kumar, Manastu Space builds green propulsion and debris-avoidance solutions for satellites. The aerospace and defense company develops non-toxic propulsion technology and in-orbit servicing systems for commercial deployment and space missions.
The company has developed a proprietary hydrogen peroxide-based fuel that gives 50% higher performance and is less harmful to the environment than conventional toxic propellants like hydrazine. Its debris-avoidance systems allow satellites to manoeuvre in orbit, avoid collisions with space debris, adjust trajectories, and de-orbit at the end of their operational lives.
Use of capital
The capital will enable commercial deployment of Manastu's green propulsion and debris-avoidance solutions, support key in-orbit servicing technologies, and bring its propulsion system to Technology Readiness Level 9.
According to company disclosures with the MCA, the funds are raised for research and development, growth, expansion, marketing, and general corporate activities.
Prior backing and market context
Before this round, Manastu Space had raised $9 Mn from investors including Capital-A, Capital 2B, Indian Angel Network (IAN), E2MC, and BIG Capital. It last raised $3 Mn in August 2025 to commercially roll out its green propulsion and debris-avoidance system.
Manastu operates in the global market for satellite propulsion systems alongside competitors such as Bellatrix Aerospace and Dhruva Space.