Manastu Space funding: the Indian spacetech startup has raised ₹22 crore (about $2.3 million) in an ongoing round that appears to extend its Series A, according to regulatory filings reported by Inc42 on 30 October 2026. The money comes from Gandhi Securities and Investments, the Thacker Legacy Trusts and several angel investors.
Manastu Space was founded in 2017 by Tushar Jadhav and Ashtesh Kumar. It builds green propulsion systems for satellites, including technology for in-orbit refuelling and debris avoidance. The round is not yet closed: the company reportedly plans to raise a further ₹9.2 crore from existing backer Capital A, which has not been confirmed, so the final size could change.
What Will Manastu Space Do With the ₹22 Crore?
According to its filings with the Ministry of Corporate Affairs, the funds are meant for “research & development, growth, expansion, marketing and general corporate activities.” The filings also show that compulsorily convertible preference shares worth ₹2.5 crore were first issued to Aakash Chaudhry, founder of Aakash, and later cancelled. Manastu did not respond to Inc42’s queries before publication.
Why Does Green Satellite Propulsion Matter?
Most satellites today use hydrazine, a toxic fuel that is costly to handle. Manastu’s propellant is based on hydrogen peroxide, which the company says delivers 50% higher performance and is less harmful than hydrazine. The startup competes with Indian players such as Bellatrix Aerospace and Dhruva Space. Inc42 cites a projection that the satellite propulsion market will grow at 17.6% a year to reach $4.7 billion by 2031.
Government Backing and Earlier Funding
The Technology Development Board under the Ministry of Science and Technology recently committed ₹116 crore to Manastu in the form of optionally convertible debentures. Before this round, the startup had raised about $9 million from investors including Capital-A, Capital 2B, Indian Angel Network, E2MC and BIG Capital. Its previous raise was a $3 million Series A extension in August 2025.
What Happens Next?
The key things to watch are whether the additional ₹9.2 crore from Capital A is completed and how Manastu puts the government’s ₹116 crore commitment to work. No market or industry-body reaction to the filing had been reported at the time of writing.
Frequently Asked Questions
How much has Manastu Space raised?
Manastu Space has raised ₹22 crore (about $2.3 million) in an ongoing round, according to regulatory filings. It may raise ₹9.2 crore more from Capital A, though this is not yet confirmed.
Who invested in Manastu Space?
Gandhi Securities and Investments, the Thacker Legacy Trusts and several angel investors took part in this round.
What does Manastu Space make?
It develops green propulsion for satellites using a hydrogen peroxide-based fuel, along with technology for in-orbit refuelling and debris avoidance.
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