InspeCity’s flagship platform, VEDA (Vehicle for Life Extension and Deorbiting Activities), was founded in 2022 by IIT Bombay professor Chowdhury and his student Tausif Shaikh. It combines technologies such as propulsion, robotics, rendezvous, proximity operations, and docking (RPOD) to extend satellite lifespans and reduce space debris.
Last year, Antler India and Veda VC led a pre-seed fundraising round for the spacetech business, which garnered $1.5 million.
The collaboration comes at a time when the Indian startup ecosystem has experienced a surge in spacetech businesses that have earned millions of dollars in funding and developed cutting-edge products. The country’s major spacetech startups include Agnikul, Skyroot, Digantara, Pixxel, and SatSure.
According to reports, the indigenous commercial spacetech market is expected to reach $77 billion by 2030.