HYDERABAD, Apr 25: Skyroot Aerospace, a
city-based startup, is gearing up to test-launch its
‘Vikram’ series of rockets to send satellites into space by
mid-2021.
The aerospace company is betting big on the proposed
Space Activities Bill-2017 which is under discussion at the
Cabinet-level.
Once the Bill is passed, it would enable and regulate
the activities related to space by the private players.
Promoters of Skyroot Aerospace Pawan Kumar Chandana and
Naga Bharath Daka, who are former scientists of the Indian
Space and Research organisation (ISRO), are in the process of
raising the second round of funding from investors.
Skyroot has graduated from the design-level to the actual
testing stage of the propulsion system, according to the
promoters.
The early-stage funding was done by Mukesh Bansal and
Ankit Nagori.
Referring to market reports, Naga Bharath said the
space vehicle launch market is expected to see exponential
growth in the future with over 7,000 satellites anticipated to
be launched in the next ten years.
“We will be one of the Indias first private launch
vehicle (rocket)-makers. There is an upsurge in launching
small satellites globally. The current capacity of launch
vehicle capacity is not sufficient to meet the demand as in
the next 10 years, around 7,000 small satellites (less than
1,000 kg) are to be launched, Naga Bharath told PTI
Wednesday.
“We have been following international market trends.
There is a need for multiple launch providers around the
world. There are other private launch vehicle developers in
other countries,” he said.
India has a good ecosystem in terms of satellite-
launching and we want to leverage the ecosystem, he said.
Refusing to divulge the investments, the IIT-Chennai
alumnus said another round of funding would be looked into and
discussion with potential investors was on.
“Post-design (of the rocket) to manufacture the solid
stage prototype propulsion system and test, we need further
investments, he said.
Today, space technology and applications are used as
enabling tools for national development and governance. Hence,
it was considered that introduction of a space-specific legal
regime should only enable further growth of space activities
in India rather than merely a regulatory or restrictive
regime.
The country needs to facilitate private sector
participation in space activities and authorisation and
supervision by the government, says the draft Space Activities
Bill. (PTI)
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