India, Nov. 22 -- Update | November 22, 12:58 IST

Spacetech startup Agnikul Cosmos has secured $17 Mn (about INR 150 Cr) from Advenza Global, Artha Select Fund, Atharva Green Ecotech, HDFC Bank, Prathithi Ventures, 100X.VC, and a few family offices at a valuation of $500 Mn.

In a statement, Agnikul said it plans to use the capital for scaling production units of aerospace and rocket components and advancing its stage-recovery programme. A part of the funds will be utilised for Agnikul's upcoming integrated space campus.

The campus is set to be developed on 350 acres of land allocated by the Tamil Nadu government to build end-to-end facilities for manufacturing and testing of launch vehicle systems.

Additionally, the startup said some ...