BusinessVC/PE

SpaceFields Closes an $800,000 Seed Round

Image: SpaceFields

SpaceFields, a startup building solid rocket motors, has closed $800,000 in seed funding, the Bengaluru, India-based company announced yesterday.

The round, which was led by US firm HVB 88 Angels and Delhi-based O2 Angels Network, will enable the startup to boost R&D and double its headcount. It also included participation from Vinners and a slate of angel investors.

“Our focus as a dual-use technology player, amidst the privatization of the space sector and liberalization of defense sector in India, is adding critical capabilities in an otherwise antiquated and fragile supply chain.,” SpaceFields cofounder and CEO Apurwa Masook told Payload via email. “We have emerged as Asia’s first non-legacy systems integrator to have developed and test-fired large-diameter scale [solid rocket motors].”

Building better propulsion: Masook and his cofounders, Sudarshan Samal and Rounak Agrawal, spun up SpaceFields in 2021 out of a club they founded at the India Institute of Science. Since then, the team has clinched partnerships with governments, academia, and commercial entities to begin designing propulsion systems for the market.

Among SpaceFields’ designs is an aerospike engine, which the company tested for the first time last year. Aerospike engines are designed to be more efficient at a variety of altitudes, as opposed to your standard bell nozzle that operates optimally at a specific altitude and pressure.

“Our focus remains to develop a platform technology for solid-state rocket-motor fuel and further scale to its wide-ranging applications, including emerging hypersonics,” Masook said in a release. “This funding infusion will help us enhance our capabilities and readiness to undertake much larger and faster test campaigns for our solid rocket motors.”

What’s next? The company has spent the last three years designing and testing initial prototypes of its engines. Now, it’s time to get deeper into the development process and get ready to sell.

The company’s leadership is also planning for significant growth. SpaceFields employs 12 people full time, and it plans to double that number by the end of the year, with an emphasis on hiring for engineering roles.

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