<ul><li>The two-year old Bengaluru and LA-based <keyword id="8279723" type="UNKNOWN" weightage="20" keywordseo="Pixxel">Pixxel</keyword> has raised the funds from Techstars, Omnivore VC and others.</li><li>Founded by Awais Ahmed and Kshitij Khandelwal, the startup had last raised $5 million in August 2020.</li><li>Pixxel, which was supposed to launch its first satellite Anand on February 28 had delayed the same due to software issues.</li></ul>Bengaluru and Los Angeles-based Pixxel has lapped up $7.3 million (₹52.8 crore) in a seed funding round from Techstars, Omnivore VC and others. The space data startup, which is one of India’s most hyped <keyword id="6177850" type="UNKNOWN" weightage="20" keywordseo="Spacetech">spacetech</keyword> companies, also announced the launch of a new product – hyperspectral imaging, which basically refers to capturing and processing images at various wavelengths. The company said that it plans to launch ‘world’s highest resolution hyperspectral satellite constellation’. “We started looking at space as a sector for us to be able to work in, and we realized that what we wanted to do was to be able to enable people to take resources from space to use in space. That included asteroid mining, for example, and when we investigated that, we found hyperspectral imaging was the imaging tech that would enable us to map these asteroids as to whether they contain these metals or these minerals. So that knowledge sort of transferred to this more short-term problem that we were looking at solving,” co-founder Awais Ahmed told <a href="https://techcrunch.com/2021/03/17/pixxel-closes-7-3m-seed-round-and-unveils-commercial-hyperspectral-imaging-product/">TechCrunch</a> in an interview. The two year old startup, founded by Ahmed and Kshitij Khandelwal, had last raised $5 million (₹36 crore) in August 2020, which was called as one of the <a href="https://timesofindia.indiatimes.com/business/india-business/in-a-first-indian-space-tech-co-pixxel-gets-5m/articleshow/77642457.cms#:~:text=CHENNAI%2FBENGALURU%3A%20In%20a%20first,satellites%20into%20space%20from%20India.&amp;text=Started%20by%2022%2Dyear%2Dold,satellite%20into%20space%20in%20November.">largest </a>seed funding rounds in India back then. “Excited to deploy some of the best imaging tech that’s ever been put in orbit and bring the benefits of space down to earth,” Ahmed said in a post on <a href="https://twitter.com/awaisahmedna/status/1372230816508518405">Twitter</a>. Pixxel, which was <a href="https://www.businessinsider.in/science/space/news/indian-space-startup-pixxel-wont-be-launching-its-satellite-on-february-28/articleshow/81170896.cms">supposed to launch</a> its first satellite Anand on February 28 had delayed the same due to software issues. Anand is a part of Pixxel’s Firefly fleet of earth observation satellites. The Firefly fleet is a constellation of satellites that Pixxel is aiming to deploy in Low Earth Orbit (LEO) to monitor the planet around the clock. In December 2020, the startup had also partnered with NewSpace India Limited (NSIL), the commercial arm of India’s premier space agency ISRO, to launch Pixxel’s remote-sensing satellite on a ISRO PSLV rocket. The Indian spacetech sector has been heating up, as the government too has been extending its support to the sector. <div type="twitter" handle="narendramodi" handlename="Narendra Modi" image="http://pbs.twimg.com/profile_images/1249934092994375680/xX66NSZP_normal.jpg" favoritecount="11944" retweetcount="1820" status="Space is the space to be in! I assure you, and several others like you, of the constant support from the Governme… https://t.co/bcLL9hhNBP" createdat="1607958091000" id="1338499366470909955"></div> India’s premier space agency ISRO has also opened its door to startups through the programme – Space Entrepreneurship &amp; Enterprise Development (SEED). SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/indian-space-startup-pixxel-wont-be-launching-its-satellite-on-february-28/articleshow/81170896.cms">Indian space startup Pixxel won’t be launching its satellite on February 28</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-future-group-appeals-to-the-singapore-arbitrator-to-exclude-future-retail-from-the-fight-with-amazon/articleshow/81562016.cms">Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon</a>

Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite

<ul><li><keyword id="5961836" type="General" weightage="20" keywordseo="bellatrix-aerospace" source="Orion">Bellatrix Aerospace</keyword> has raised $8 million in a round led by Inflexor Venture LLP and BASF Venture Capital GmbH.</li><li>The company plans to use this funding to start expanding commercial operations their operations by the end of 2022.</li><li>It will be launching space taxis and expanding its propulsion systems for commercial use.</li></ul>Spacetech startup <keyword id="2578058" type="General" weightage="20" keywordseo="bellatrix" source="Orion">Bellatrix</keyword> Aerospace is raising $8 million in a round led by Inflexor Venture and BASF Venture Capital GmbH, the corporate venture company of the German multinational chemical company BASF SE. StartupXseed, Pavestone Capital, Mankind Pharma family office, Survam Partners and Karsemven Fund also participated in this Series A round, along with other prominent family offices and angel investors. Bellatrix was founded in 2015 by Rohan M Ganapathy and Yashas Karanam — is in the business of manufacturing satellite launch vehicles and propulsion systems. It co-exists with other spacetech companies like Agnikul, Dhruva Space and Pixxel. <cmsannotation type="cmsannotation" annotationid="Space taxis as a B2B offering" comment="subhead" text="Space taxis as a B2B offering">Space taxis as a B2B offering</cmsannotation> The company plans to use this funding to expand its commercialization efforts by the end of 2022 with the launch of space taxis, Bellatrix’s chief executive officer Rohan M Ganapathy told Business Insider. “The technologies being developed for use in space have the potential to offer many opportunities for the chemical industry, for example in new materials and for innovative application cases of chemistry on earth and in orbit. In India in particular, this industry is currently experiencing an unprecedented upturn," said Markus Solibieda, MD of BASF Venture Capital GmbH. Space taxis would be a business-to-business offering, which will allow the company to launch multiple micro-satellites into space on behalf of its clients using one Orbital Transfer Vehicle. <cmsannotation type="cmsannotation" annotationid="Size does matter" comment="subhead" text="Size does matter">Size does matter</cmsannotation> Ganapathy explained that the size of satellites have been reducing, while the size of rockets or space launch vehicles has remained consistent. Launching small satellites on this big rocket is expensive and it underutilizes the space available. This has brought opportunities for several big spacetech companies to develop small launch vehicles, but it is again an expensive process. “It is again like a chartered flight, it is still expensive,” he noted. “What we want to do is, look at the underutilized capacity of the larger rocket, whose launch frequency is expected to increase. We want to ensure that our OTV [Orbital Transfer Vehicle] can make ridesharing on such launches cost efficient, precise and quicker,” he said. <cmsannotation type="cmsannotation" annotationid="Many satellites, one rocket" comment="subhead" text="Many satellites, one rocket">Many satellites, one rocket</cmsannotation> Space Taxi will utilize the additional capacity of the bigger rocket and carry many passengers [satellites] who want to go to multiple different orbits,” Ganapathy, founder, CTO and CEO of Bellatrix explained. The initial version of the Space Taxi, called the Pushpak, can carry satellites up to 600 kg. “We see the space industry is growing exponentially, and Bellatrix’s products will play a major part in democratizing access to the space industry with their cost-effective and power-efficient thruster systems, ideal for small satellite manufacturers,” said Venkat Vallabhaneni, managing partner at Inflexor Ventures. The company also tested a green propulsion system last month. Spacecraft propulsion is any method used to accelerate spacecraft and artificial satellites. The company plans to hire 40 more employees across both technology and business verticals, Karanam added. While the company will be looking to hire tech talent from India, the business talent would be hired all across the globe. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/telecom/news/mukesh-ambanis-jio-lags-behind-airtel-which-is-the-top-telecom-brand-in-india/articleshow/91935279.cms">Mukesh Ambani's Jio lags behind Airtel which is the top telecom brand in India</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/foreign-inventors-hit-a-record-with-selloffs-in-may-and-they-will-keep-exiting-say-experts/articleshow/91934731.cms">Foreign investors are as spooked as they were in the first month of lockdown in India</a> <a href="http://www.businessinsider.in/business/corporates/news/zomato-paytm-nykaa-and-others-spent-6000-crore-on-their-employees-last-year/articleshow/91931970.cms" data-type="tilCustomLink">Zomato, Paytm, Nykaa and others spent ₹6,000 crore on their employees last year</a>

This startup which makes satellite launches cheaper and faster raises funds to start commercial operations

<ul><li>Several big names like Paytm’s Vijay Shekhar Sharma and Mahindra’s Anand Mahindra have been investing in the Indian <keyword id="6177850" type="General" weightage="20" keywordseo="spacetech" source="Orion">spacetech</keyword> segment.</li><li>The $7 billion spacetech industry in India is exploding and there is a lot of room for both experts and <keyword id="53533" type="General" weightage="20" keywordseo="entrepreneurs" source="Orion">entrepreneurs</keyword>.</li><li>Elon Musk did not work with NASA, Pixxel’s Awais Ahmed told Business Insider to highlight that those looking to enter the sector just need to see how they can fill in the demand.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The Indian spacetech industry has been growing rapidly over the last one year and giants like Vijay Shekhar Sharma (Paytm), Anand Mahindra (Mahindra and Mahindra) and Balaji Srinivasan (former CTO at Coinbase) have been taking notice of the unique opportunities that this niche segment provides. The global commercial space industry was estimated to be $360 billion and the pie in India was expected to be worth about $7 billion, at the end of 2019, by consulting firm PwC. And the segment is growing at breakneck speed. There is a growing need for a whole host of experts and entrepreneurs to fill in an increasing demand across the value chain. The space sector can be divided into two categories <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstream </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Satellite manufacturers and launchers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Downstream </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Activities based on the use of data provided by space infrastructure such as broadcasting, communications, navigation and more. </td></tr></tbody><tbody></tbody><tbody></tbody></table>But what does it take to enter a domain which is as unique and technical as space? Business Insider spoke to three spacetech entrepreneurs at TIE Delhi’s India Internet Day conference on September 23. The early entrants of the spacetech domain — Dhruva Space’s Sanjay Nekkanti, Pixxel’s Awais Ahmed and Kawa Space’s Kris Nair — shared their inputs on the experites needed to start a spacetech business. “You can build a system, you can build better and more accurate monitoring of methane emissions. You can build better transportation systems. If you have a much cheaper way to kind of launch a bunch of satellites to any orbit there is no doubt. You have better ideas to kind of work around or in orbit, last mile transfer, small clusters beam clusters...The opportunities are endless,” Nair added. They all had one common thing to share — the will to start a business. Irrespective of their own diverse backdowns, the trio have been killing it in the Indian spacetech industry with several big names backing their business. Nair of Kawa Space, which is backed by Cure.Fit’s Mukesh Bansal and Paytm’s Sharma, noted that if someone has the desire to build something for the space industry, they just need to understand where the big gaps are. They can always build better versions of the already existing mechanisms or find the way to launch satellites for much cheaper, he added. Ahmed’s Pixxel further added that one does not need any connections with the Indian Space Research Organisation (ISRO) or be connected to the space industry from the beginning. The Internet is a great place to learn since there are PhD studies, reports, books and the reading material available on it, he said. Besides this, one can always reach out to entrepreneurs in this domain over social media platforms like LinkedIn to understand more about the segment. “The biggest space entrepreneur today, Elon Musk, was not associated with anything related to space. He learnt,” Ahmed added. Speaking from his engineering experience, Dhruva Space’s Nekkanti added there is a lot of scoop for growth hacking as a lot of technologies that are built for earth can come in handy for space operations as well with certain updates. “So, for people who want to be an entrepreneur in this industry if you have an, I talk from an engineer's perspective, if you have an engineering degree. You're currently working somewhere, it could be the IT industry. I think there could be some parts of that that can be applied in the space industry,” he added. Even funding is not a challenge The Indian space sector was valued at $7 billion back in 2019 and is expected to grow at a compound annual growth rate (CAGR) of $50 billion by 2024, a PWC report <a href="https://www.pwc.in/assets/pdfs/research-insights/2020/preparing-to-scale-new-heights.pdf">estimates</a>. Funding and garnering the interest of the investors was definitely one of the biggest challenges that the Indian spacetech industry faced until last year. There were no policies around it and investors simply didn’t want to take the risk. Mumbai Angels-backed Dhruva and Techstars-backed Pixxel had to talk to 100s of investors before they could actually close a funding round, However, the segment saw a ray of hope when the Indian government decided to privatise the space and allowed more companies to enter this domain. On May 21 earlier this year, both Anand Mahindra-backed Agnikul and Mukesh Bansal-backed Skyroot bagged<a href="https://www.businessinsider.in/business/startups/news/skyroot-aerospace-raises-11-million-in-funding-with-plans-to-have-vikram-1-on-the-launch-pad-by-mid-2022/articleshow/82788901.cms"> $11 million </a>each from several big names in the industry. These were the biggest rounds that Indian spacetech startups have raised to date. ALSO WATCH: Some of the India’s biggest tycoons are wetting their feet in the space sector, Gateway House: Indian Council on Global Relations' Dr.Chaitanya Girtold Business Insider. <div type="Video" msid="80406550" hostid="261" title="Here's why 2021 may be a watershed year for India's space sector" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=80406550"></div> SEE ALSO <a href="https://www.businessinsider.in/investment/news/snoop-doggs-new-project-with-let-fans-party-with-him-inside-his-la-mansion-and-potentially-be-neighbours/articleshow/86478559.cms">Snoop Dogg’s new project will let fans party with him inside his LA mansion and potentially be neighbours</a> <a href="https://www.businessinsider.in/investment/news/evergrandes-impact-on-bitcoin-highlights-how-cryptocurrencies-still-have-growing-pains/articleshow/86422657.cms">Evergrande’s impact on Bitcoin highlights how cryptocurrencies still have growing pains</a> <a href="https://www.businessinsider.in/investment/news/three-reasons-why-this-might-be-a-good-time-to-buy-bitcoin/articleshow/86369793.cms">Three reasons why this might be a good time to buy Bitcoin</a>

We asked three spacetech entrepreneurs what it takes to enter the field and they listed out the opportunities

<ul><li><keyword id="7537495" type="COMPANY" weightage="20" keywordseo="Skyroot-Aerospace">Skyroot Aerospace</keyword> has raised $11 million in its series A round of funding. </li><li>The space startup founded by two former ISRO scientists is already taking launch bookings for next year.</li><li>It plans to have its first commercial mission off the ground mid-2022.</li></ul>Indian space startup Skyroot Aerospace has raised $11 million in its series A round of funding. This is nearly 10 times the $1.5 million the rocket building entrepreneurs, Pawan Kumar Chandana and Naga Bharath Daka, raised in 2018. “We intend to raise $40 million more to fund our aggressive growth plans over the next few years,” said Daka, co-founder and chief operating officer (COO) of the Hyderabad-based company. The series A amount will be used for its rocket programme and getting their flagship vehicle, Vikram-1, off the ground. However, Skyroot Aerospace is not the only space startup raking in fresh funding. Chennai-based Agnikul Cosmos also raised $11 million in their Series A round of funding — the largest investment in the space startup scene for both of them after the Indian government opened up the sector to private participation less than a year ago. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Space Startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Latest funding </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Pixxel</a> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$7.3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Agnikul Cosmos </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$11 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Skyroot Aerospace </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$ 11million </td></tr></tbody></table> According to Chandana, Skyroot Aerospace’s announcement was long pending but the team was waiting for the COVID-19 situation to become comparatively better. "We had more time for design which helped in optimising our vehicle and resulted in significant cost and time savings," he told Business Insider. Skyroot Aerospace’s Series A was led by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli. Both of them will now also be on the startup’s board of directors along with <keyword id="291017" type="COMPANY" weightage="20" keywordseo="Solar-Group">Solar Group</keyword>, a major space and defence supplier. Other notable investors also include former WhatsApp global business chief Neeraj Arora, <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword> and CureFit founder Mukesh Bansal — who is also the original investor from 2018 — Graph Ventures, and Worldquant Ventures. <cmsannotation type="cmsannotation" annotationid="Indian space startup Skyroot Aerospace has raised $11 million in its series A round of funding. This is nearly 10 times the $1.5 million the rocket building entrepreneurs, Pawan Kumar Chandana and Naga Bharath Daka, raised in 2018. “We intend to raise $40 million more to fund our aggressive growth plans over the next few years,” said Daka, co-founder and chief operating officer (COO) of Skyroot Aerospace. The series A amount will be used for its rocket programme and getting their flagship vehicle -- the Vikram-1 -- off the ground. Skyroot Aerospace is not the only space startup raking in fresh funding. Chennai-based Agnikul Cosmos also raised $11 million in their Series A round of funding — the largest investment in the space startup scene for both of them after the Indian government opened up the sector to private participation less than a year ago. Space Startup Latest funding Amount Pixxel March 2021 $7.3 million Agnikul Cosmos May 2021 $11 million Skyroot Aerospace May 2021 $ 11million According to Chandana, Skyroot Aerospace’s announcement was long pending but the team was waiting for the COVID-19 situation to become comparatively better. &quot;We had more time for design which helped in optimising our vehicle and resulted in significant cost and time savings,&quot; he told Business Insider. Skyroot Aerospace’s Series A was led by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli. Both of them will now also be on the startup’s board of directors along with Solar Group, a major space and defence supplier. Other notable investors also include former WhatsApp global business chief Neeraj Arora, Myntra and CureFit founder Mukesh Bansal — who is also the original investor from 2018 — Graph Ventures, and Worldquant Ventures. Space technology startups are the next big bet for venture capitalists in India The COVID-19 pandemic and the associated lockdowns were an issue for Agnikul Cosmos. “Due to the COVID-19 situation, there have been a few delays but we are looking to launch our first mission in the second half of next year,” said Srinath Ravichandran, co-founder and chief executive officer (CEO) of Agnikul Cosmos. The startup test-fired the world’s first 3D printed rocket engine Agnilet earlier this year. And it plans on conducting more such tests later this year. Its series A round of funding was led by Mayfield India. Angel investors including Anand Mahindra, Naval Ravikant, Nithin Kamath and Balaji Srinivasan also threw their hat in the ring. The startup had raised $3.1 million in March 2020 in its pre-Series A round of funding." comment="subhead" text="Space technology startups are the next big bet for venture capitalists in India">Space technology startups are the next big bet for venture capitalists in India</cmsannotation> The COVID-19 pandemic and the associated lockdowns were an issue for Agnikul Cosmos. “Due to the COVID-19 situation, there have been a few delays but we are looking to launch our first mission in the second half of next year,” said Srinath Ravichandran, co-founder and chief executive officer (CEO) of Agnikul Cosmos. The startup test-fired the world’s first 3D printed rocket engine Agnilet earlier this year. And it plans on conducting more such tests later this year. Its series A round of funding was led by Mayfield India. Angel investors including Anand Mahindra, Naval Ravikant, Nithin Kamath and Balaji Srinivasan also threw their hat in the ring. The startup had raised $3.1 million in March 2020 in its pre-Series A round of funding. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebooks-mark-zuckerberg-has-six-months-to-answer-these-five-questions/articleshow/82729482.cms">Facebook’s Mark Zuckerberg has six months to answer these five questions</a> <a href="https://www.businessinsider.in/science/news/chinas-mars-rover-has-beamed-back-its-first-images-of-the-red-planet/articleshow/82787550.cms">China's Mars rover has beamed back its first images of the red planet</a>

Skyroot Aerospace raises $11 million in Series A funding with plans to have Vikram-I on the launch pad by mid-2022

A significant measure of the level of entrepreneurial spirit in a country can be gained from the enthusiasm and zeal with which its early stage founders are solving real world problems. BITS Pilani is a university acclaimed for its booming startup culture and BITS alums at the helm of behemoths of the Indian startup ecosystem such as Swiggy, redBus, Groww, and Postman among others are a testament to the entrepreneurial energy of this institute. At the centre of this energy lies <a href="https://conquest.org.in/">Conquest</a>, a full-fledged startup accelerator inspired by the likes of Y Combinator and Sequoia’s surge. Run entirely by a driven group of 30 students from BITS Pilani motivated by the sole purpose of creating value for startups that come to <keyword id="2321288" type="General" weightage="100" keywordseo="conquest" source="Orion">Conquest</keyword>. Started in 2004, as a simple B-Plan competition, the ambition of the team behind Conquest continued to grow as they realised they have the potential to make a much deeper impact on the ecosystem- they pivoted first into an entrepreneurship conclave and finally into a startup accelerator in 2018. Just over the last five years Conquest alums have added significant value such as <a href="https://twitter.com/ConquestBITS/status/1478783724900663296?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">ThinkerBell Labs</a> raising over Rs. 1.05 crores at Shark Tank India, Social Cops which was acclaimed by the Prime Minister in Mann Ki Baat, and Ippopay which was funded by Coinbase Ventures among others. <div type="image" title="Conquest" msid="90704080" hostid="261"></div> Even though the number of E-cells in the country has grown exponentially over the past decade, Conquest remains a unique endeavour with far reaching effects on the Indian ecosystem. The students involved inevitably end up becoming towering figures with the founders of GreyOrange - valued at over $500 Mn, Visit Health - an AI driven health diagnostic chatbot, and BiteSpeed - raised $1.9 Mn in seed funding having been a part of the accelerator at the beginning of their careers. This year’s Conquest Launch Event was an example of the ever growing scale of the program with stalwarts of Indian entrepreneurship sharing novel insights from their journeys. Ritesh Malik, the founder of Innov8 was the keynote speaker this year and spoke about the mental models that early stage teams should follow to maximise their chances of success. Being a flagbearer of innovation himself, he placed special emphasis on the power of compounding and making your product 1% better everyday. Describing his ideal founder he said, “Best founders create opportunities from their own problems. Change is the highest ROI business.” <div type="image" title="Conquest launch" msid="90704110" hostid="261"></div> Deepak Ramineedhi from Westbridge Capital as the Guest of Honour explained how with one of the largest consumer internet bases in the world, India is probably one of the best places to startup stating- “This is probably a once in a lifetime opportunity for young people to startup. If you want to start a business you will not find a better geography or time to start tech enabled businesses across sectors.” With a dynamic team, Conquest aims to continuously reinvent itself to adapt to the ever evolving ecosystem. With its fast expanding community of crypto enthusiasts, Conquest believes that India is poised to be at the centre of the technological revolution this time around. With the vision to fuel this revolution, Conquest has conceptualised a web3 track which will be a program exclusively for startups in the crypto metaverse and DeFi space. Since this is the inaugural edition for this track, Conquest hosted a <a href="https://twitter.com/ConquestBITS/status/1510469452621824001?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">panel discussion</a> where thought leaders in these domains including the likes of Sandeep Nailwal, the Co-founder of Polygon, Akshay BD from Tanmay Bhat’s SuperteamDAO, Tanay Pratap, Co-founder and CTO of Invact Metaversity and <keyword id="13566661" type="General" weightage="50" keywordseo="vijay-kalangi" source="Orion">Vijay Kalangi</keyword>, the Co-founder of SolRazr got together to have an in depth conversation about bringing web3 to the next billion users. Akshay BD drew parallels about the hype surrounding crypto and web3 with that of social media in the last decade highlighting how even now it is a highly underrated phenomenon since it played a part in electing an American President. Sandeep in particular was highly optimistic about web3 stating “My advice would be with folded hands that even if you don’t understand web3 right now, do not miss this revolution. You might think many of these things are a scam and some of these things are but this is going to be a big part of your life for many years to come. Just keep learning. Keep learning and you’ll have your aha moment”. <div type="image" title="Conquest launch" msid="90704153" hostid="261"></div> Being an accelerator, Conquest understands the high octane nature of the startup world and how this continuously reshapes its role. To <a href="https://twitter.com/ConquestBITS/status/1510329556510867456?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">discuss</a> how the accelerator model has been refined over the years and how it continues to be one of the most important programs for early stage ventures, Conquest hosted Arnav Sahu from Y Combinator, Rahul Seth from Antler India and Chintan Bakshi from CIIE. The ideas shared gave a layered understanding of the minds behind these programs. The ambitions of the Indian startup ecosystem grew so expeditiously that a huge gap of knowledge and capital was created between founders with great ideas and industry leaders with decades of experience and knowledge. Conquest aims to bridge this gap by bringing some of the most promising founders of this generation in close contact with investors, mentors and experts. Among the 3000+ registered startups, the top 100 startups are selected after careful consideration by a jury of industry experts. They are then provided with startup tool kit that includes valuable resources like SaaS product memberships which help them to further groom and scale themselves. The top 30 startups then get one-on-one mentoring sessions where they gather insights from some of the accomplished names from different walks of the startup ecosystem. These include the likes of Mahesh <keyword id="13566662" type="General" weightage="50" keywordseo="vandi-chalil" source="Orion">Vandi Chalil</keyword> (Head of Technology, BookMyShow), Arjun Nohwar (Country GM, HBO Max), Anirvan Chowdhury (Investments, Blume Ventures), <keyword id="13566663" type="General" weightage="50" keywordseo="zeenal-patel" source="Orion">Zeenal Patel</keyword> (AVP &amp; Product Design, AJIO.com). Funneling down further, Conquest provides the top 15 most promising startups with an exhaustive 6-week long online mentorship. Alongside the sector and vertical specific mentorship, we also host competitive pitching sessions and organize AMAs and fireside chats with some of the most prominent names in the industry like <a href="https://twitter.com/ConquestBITS/status/1410218767758462980?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">Ankur Warikoo from Nearbuy</a> and <a href="https://twitter.com/ConquestBITS/status/1416404422897242114?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">Awais Ahmed from Pixxel</a>. <div type="image" title="Conquest launch" msid="90704180" hostid="261"></div> In the Grand Finale, the top 10 startups from these 15 undergo an all-expenses-paid 10-day accelerator program in the country’s tech capital, Bengaluru, where they receive direct mentorship and attend sessions on vital topics like networking and fundraising. The six weeks of Conquest finally culminate with the Demo Day which is similar to what Shark Tank India made popular through our television sets. It is indeed astonishing to know that Conquest has been hosting this Demo Day where founders pitch their startups to reputed angel investors and a jury for the last five years, long before Shark Tank India came into existence! The Demo Day comprises keynote speeches and panel discussions with big names like <a href="https://twitter.com/ConquestBITS/status/1421127675284914180?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">Shradha Sharma</a>, Sanjay Nath, and <keyword id="295255" type="General" weightage="50" keywordseo="sanjeev-bikhchandani" source="Orion">Sanjeev Bikhchandani</keyword> just to name a few. The winner of Conquest is then granted an equity-less cash prize. Over the last 2 years even in a Covid impacted capital market, Conquest disbursed over 60 lacs to winning startups. Registrations for the 18th edition of Conquest have now kicked off. To register click <a href="https://form.jotform.com/220931435484456">here</a>. <div type="image" title="Conquest launch" msid="90704225" hostid="261"></div> Disclaimer: Business Insider is the Exclusive Insights Partner to the event

India's largest student-run startup accelerator: Conquest, BITS Pilani launches its 18th edition. Registrations open.

<ul><li>The Indian government has started to give <keyword id="10817184" type="UNKNOWN" weightage="20" keywordseo="defence-procurement-contracts">defence procurement contracts</keyword> to micro, small and medium enterprises (MSMEs).</li><li>Dassault Group's software services subsidiary called <keyword id="181533" type="COMPANY" weightage="20" keywordseo="Dassault-Systemes">Dassault Systemes</keyword>, which already works with companies like NASA, Airbus and Boeing, sees this as an opportunity to enable these MSMEs to deliver on these contracts.</li><li>It is currently in early talks to set up a ‘common shared infrastructure model’ with state governments — like Uttar Pradesh and Tamil Nadu — where MSMEs can design, test and start rolling out technology-enabled defence products.</li></ul>Everyone in India knows that French fighter jet maker <keyword id="230239" type="COMPANY" weightage="20" keywordseo="Dassault-Aviation">Dassault Aviation</keyword> clinched the deal with India to deliver Rafale, despite all the controversies surrounding it. But, did you know that its parent company, the Dassault Group, has a subsidiary that provides engineering software, much like Microsoft and Oracle — and has an office in India? The software offshoot, Dassault Systemes, is looking to make roadways into the country by capitalising on the Modi administration’s push on <a href="https://www.businessinsider.in/policy/economy/news/difference-between-narendra-modi-make-in-india-and-atma-nirbhar-and-why-the-latter-may-work-better/articleshow/77629449.cms">Atma Nirbhar Bharat</a> (Self Reliant India). Under the massive reforms introduced last year, the Indian government is now handing out <a href="https://www.businessinsider.in/budget/news/prime-minister-narendra-modi-signals-big-defence-budget-allocation-for-make-in-india/articleshow/80511082.cms">defence procurement contracts</a> to micro, small and medium enterprises (MSMEs) to boost domestic defence manufacturing. “The Ministry of Defence (MoD) has planned to invest about 63% of the outlay for 2021-22 — about ₹70,221 crore — on domestic procurement. This increase will have a positive impact on enhanced domestic procurement, having a multiplier effect on our industries, including MSMEs and startups,” said Defence Minister <a href="https://twitter.com/DefenceMinIndia/status/1363720075467841540">Rajnath Singh</a> during a webinar on February 22. A ‘Fund of Funds’ worth ₹10,000 crore has been specifically created for startups and MSMEs. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Defence procurement contract </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Item </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ideaForge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 145 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unmanned aerial vehicles for high altitude areas </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹178 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kalyani M4 vehicles </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OshoCorp Global </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,325 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Develop and supply auxiliary power units (APUs) for T-72 and T-90 main battle tanks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alpha Design Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 590 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digitise Pechora missile and radar systems </td></tr></tbody></table>Source: Various reports Dassault Systemes wants to capitalise on this opportunity by introducing what they call a ‘common shared infrastructure model’, which essentially an <a href="https://www.3ds.com/insights/customer-stories/wichita-state-university">innovation centre</a>. It is currently in early talks with state governments⁠ looking to set up defence industrial corridors. Namely, Uttar Pradesh and Tamil Nadu as identified by India’s Finance Minister <a href="https://pib.gov.in/Pressreleaseshare.aspx?PRID=1579096">Nirmala Sitharaman</a>. “We’re working with the government to create a ‘common shared infrastructure model’, where the government and Dassault Systemes will invest to create the model. MSMEs will leverage the model and the technologies that are hosted there, so that they also get elevated in the technology adoption scale,” Ravikiran Pothukuchi, the Director of Dassault Systemes told Business Insider in an exclusive interview. Dassault Systemes is already the second-largest player in the global market when it comes to computer-aided design (CAD) software after Siemens. This is basically the use of computers to help with the creation, modification, analysis and optimisation of a product. <div type="image" title="dassault systemes market share" msid="81183311" hostid="261" caption="&amp;lt;p&amp;gt;Dassault Systemes global market share&amp;lt;/p&amp;gt;"></div> Its clients include bigwigs like Boeing, Airbus, the National Aeronautics and Space Administration (NASA) and its sister company, Dassault Aviation. In India, its clients include Ashok Leyland, Suprajit — India’s largest cable maker — and drone manufacturer General Aeronautics. <div type="image" title="snapshot-1614137962426" msid="81183342" hostid="261" caption="&amp;lt;p&amp;gt;Distribution of Dassault Systemes&amp;#39; customers across countries&amp;lt;/p&amp;gt;"></div> “What we realised is that the defence ecosystem of MSMEs [micro, small and medium enterprises] don't have the wavelength to invest in these technologies,” Ravikiran Pothukuchi, the director of Dassault Systemes told Business Insider in an exclusive interview. What is a ‘common shared infrastructure model’? A ‘common share infrastructure model’ is basically a stage where defence manufacturing companies and startups can come, toy with their ideas, and test their concepts — both in the virtual and physical world. “[The companies] take back their learnings and industrialise at a mass scale in their operations set up,” explained Pothukuchi.”That’s the idea that we’re discussing locally as well. There are some governments that have shown interest.” The French IT software services company already has a similar set up in the US state of Wichita in collaboration with the Wichita State University. The state of Wichita is the aerospace hub of the US, like Bengaluru. “Initially, governments are helping them to adapt to these technologies and we’ll become relevant to them at a later date. That is an investment we’re making along with the government,” the IIM-Bengaluru graduate told Business Insider. He hopes that the project to roll out the model will take shape within the next few months. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/datacracy-microsoft-ceo-satya-nadella-calls-for-a-common-set-of-global-rules-governing-data-not-fragmented-local-ones/articleshow/81176502.cms">Datacracy: Microsoft CEO Satya Nadella calls for a common set of global rules governing data— not fragmented local ones</a> <a href="https://www.businessinsider.in/science/space/news/indian-space-startup-pixxel-wont-be-launching-its-satellite-on-february-28/articleshow/81170896.cms">Indian space startup Pixxel won’t be launching its satellite on February 28</a>

INTERVIEW: Dassault Group has an India software services unit offering defence MSMEs a digital ‘trial room’ where they can test their products to bag more contracts

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Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite

Sanchita Dash