India, July 18 -- Spacetech startup OmSpace Rocket and Exploration has raised $3 Mn (around INR 26 Cr) in a pre-seed funding round led by a host of undisclosed family offices and angel investors.

The Ahmedabad-based startup plans to deploy the fresh proceeds to develop its modular launch vehicle, Infinity One, specially designed for low earth orbit satellite missions.

Founded in 2020 by Ravindra Raj Binod Mistri, Maulik Mota and Stutika Padamshali, OmSpace Rocket and Exploration is currently building Infinity One which will support a payload of 350 kg at an altitude of 800 km.

The startup claims that the launch vehicle will be a cost effective option for space explorers and will also be re-usable.

OmSpace was incubated at CrAdLE (Cent...