InspeCity Raises $5.6 Million in Seed Funding for Satellite Servicing Solutions
IIT-Bombay incubated spacetech startup InspeCity has secured $5.6 million (INR 47.28 Cr) in its seed funding round. The investment was led by Lucky Investment Managers, with participation from Speciale Invest, MGF Kavachh, and Shastra VC, among others. Ace investor Ashish Kacholia also backed the round.
InspeCity, founded in 2022, is developing in-orbit satellite servicing and deorbiting services. The funding will be primarily used for technology development and demonstration. The startup aims to address the growing need for satellite maintenance and sustainability in space.
The funding comes at a critical time for the spacetech industry, which is witnessing significant growth and innovation. InspeCity’s technology has the potential to revolutionize satellite operations and contribute to a more sustainable space environment.
With this investment, InspeCity is poised to take a significant step forward in its mission to provide critical satellite servicing solutions. The company’s innovative approach and strong backing from investors position it well for future success in the spacetech sector.
