Bellatrix Aerospace, a spacetech startup, has successfully raised $20 million (approximately ₹189.7 crore) in a Pre-Series B funding round led by Cactus Partners. This investment aims to bolster the company's business momentum through customer deployments.
New investors including Hero Investment Office, 35 North Ventures, Indusbridge Ventures, and Monarch Holdings have joined the funding round, while existing backers such as Inflexor Ventures, Pavestone VC, GrowX, Startup Xseed, and Survam Partners have increased their investments.
The funding will be utilized to expand manufacturing facilities and enhance high-throughput production lines. Additionally, it will support ongoing customer programs and strengthen operational capabilities.
Rohan Ganapathy, co-founder and CEO of Bellatrix Aerospace, stated, “Having successfully flight-qualified our core technologies, we are now focused on building a repeatable, reliable, and world-class production propulsion system. This investment allows us to significantly increase our annual production capacity, ensuring we remain the most trusted partner for operators requiring propulsion at scale.”
Founded in 2015 by Ganapathy and Yashas Karanam, Bellatrix Aerospace specializes in various propulsion technologies, including:
- Rudra green monopropellant thrusters
- Arka Hall-effect electric thrusters
- Water-based Jal propulsion system
- Rudra Nano for small satellites
These technologies are designed for low Earth orbit and geostationary satellites, focusing on enhancing satellite performance while minimizing handling costs and environmental impact. Their solutions cater to commercial satellite operators, aerospace firms, and government agencies like ISRO and DRDO.
Bellatrix competes with companies such as SatSure, Skyroot Aerospace, Agnikul Cosmos, and Dhruva Space, having raised approximately $31 million since its inception.
This funding round reflects a growing investment trend in the spacetech sector, with funds allocated in the Indian spacetech segment increasing by 94% in 2025, totaling $157 million, up from $81 million in 2024, according to Inc42’s Annual Indian Startup Trends Report.
Investors are increasingly directing funds into this sector. For example, 360 ONE Asset launched a multi-stage defense and space strategy fund with a target corpus of ₹1,000 crore, already raised in January. Additionally, SIDBI Venture Capital Ltd announced the first close of the Antariksh Venture Capital Fund at ₹1,005 crore to support early and growth-stage Indian spacetech startups in November 2025.
