Bellatrix seeks $100 million in new funding
Indian spacetech startup Bellatrix Aerospace is negotiating a $100 million Series B funding round to expand manufacturing and move beyond satellite propulsion into full satellite platforms.
Funding talks focus on scaling production
Co-founder Rohan Ganapathy confirmed discussions with current and new investors have started. The company plans to finalize the round within six to eight months. A successful raise would nearly triple its total funding, which now stands at $40 million.
The startup secured $20 million in a pre-Series B bridge round earlier this year. Ganapathy explained the larger round reflects the high upfront costs of building manufacturing infrastructure. “Space is one industry where the initial capital requirement is very high,” he said, adding that spacetech companies need factories, specialised manufacturing equipment and testing facilities before they can scale production.
International orders drive growth
Bellatrix has accumulated contracts worth ₹700 crore ($84 million) across propulsion systems and satellite businesses. These orders, expected to be fulfilled in fiscal 2027, come mostly from customers in the U.S., Europe, Japan, and South Korea.
About 80% of the current order book stems from propulsion, while its satellite platform division contributes a smaller share. Ganapathy expects satellite revenue to grow as the company commercialises its Very Low Earth Orbit (VLEO) platform.
Three VLEO satellites will launch later this year, marking a key validation milestone. These will operate at 180–200 km, far lower than conventional Low Earth Orbit satellites at 500–600 km.
Related: Protect Your Rights After a Fort Myers Crash
Their VLEO approach uses electric propulsion. Instead of carrying large propellant reserves, the system collects atmospheric nitrogen, converts it into plasma, and generates thrust to counter drag. Success could enable long-term operations in an orbit previously considered inaccessible.
“Demonstrating VLEO would expand the market significantly,” Ganapathy said. He did not disclose a 2030 order book target.
The new funding will help Bellatrix build satellite production lines. Its existing facilities can produce nearly 200 propulsion systems annually, but demand now requires dedicated satellite manufacturing. This shift positions the company in a competitive global market.
Established in 2015 by Ganapathy and Yashas Karanam, the startup serves international customers in communication and Earth observation. Its propulsion systems support long-duration satellite operations. The move to VLEO could set it apart, though the technology remains unproven at scale.
The upcoming launches will test this approach. Success could unlock opportunities in a challenging segment of space. Failure might force a return to propulsion or risk falling behind rivals investing in next-generation satellite product design.
The fundraising comes at a time when India’s private spacetech ecosystem is witnessing rapid momentum. Earlier this month, Skyroot became the first private startup globally to achieve an orbital rocket launch on its maiden attempt. Skyroot raised a $50 million Series C round in May 2026, becoming the country’s first spacetech unicorn with a valuation exceeding $1.1 billion.
