Vijay Shekhar Sharma, the founder of the Paytm, which is India top digital payment firm has now invested an undisclosed amount of sum in the Mumbai based startup Kawa Space in the Pre-Series A funding round. Previously, Bangalore and Chennai based SpecialE invested a disclosed funding in the startup.
The development follows the INR 10.3 crore investment which is made by the Mukesh Bansal, CEO and Co-founder, Cure Fit in Hyderabad based Skyroot Aerospace, which is a technology startup.
At a time when the India space programs are making a name for themselves in the world, which gives big-time investors in the country are shifting gears to space-tech startups.
Kawa Space is one among the few new-age India space tech startups, that are even gaining momentum alongside the ISRO. When asked about the raising of funds, Kris Nair, Co-Founder of Kawa Space, revealed, “We will use the funds raised to expand our team in Bengaluru and San Francisco.”
The company which is co-founded by the Bala M and Kris Nair in 2018, Kawa Space designs and operates the most advanced earth observation satellite constellations for its customers in the government jobs, financial services, agriculture sector, strategic risk management and more.
Kawa Space will be going to deploy around 60 plus small satellites, starting December 2019, which have different sort of apps, from imaging to telecommunications.
Speaking about the operation of the firm, Kris said, “We are designing space systems in a way that solution can be deployed by the customers easily without worrying about a huge capital investment or lead time. We can deploy space-based solutions or space missions in seconds rather than years, through a simple API.”
SpaceTech Startups will help the country to gain a fair share of the $350 billion global space market, where one can even test and build the launch vehicle before the take-off in India, as it even costs one-third of what it takes to do it in the America and other countries.