India, May 7 -- Spacetech startup InspeCity has raised $5.6 Mn (INR 47.28 Cr) in its seed funding round led by ace investor Ashish Kacholia's investment firm Lucky Investment Managers.

The funding round also saw participation from Speciale Invest, MountTech Growth Fund (MGF) Kavachh, Shastra VC and existing investors such as Antler India, DeVC India and Anicut Capital.

InspeCity cofounder and CEO Arindrajit Chowdhury told Inc42 that the startup will utilise the fresh proceeds towards technology development and demonstration.

"At the core, we build propulsion systems, robotics, and rendezvous and proximity operations (RPO) technology. So, we are trying to prove out pieces of this technology via this funding. We plan to launch one missio...