IIT Madras: Agnikul to go commerical early next year, aims 25 launches in a year

VC-funded Agnikul Cosmos, incubated at IIT Madras, is set to launch its commercial operations within the next six to eight months. The space startup is in active discussions with 30 to 40 potential clients, exploring specific demands and use cases for its Agnibaan rocket, which is equipped with a unique 3D-printed engine, cofounder Srinath Ravichandran told ET.

“We are seeing interest beyond traditional communication satellites. Industries are now considering space for advanced manufacturing processes, such as polymer crystallization and drug development, which benefit from the microgravity environment,” he said. The cofounder emphasized that 20% of the demand is coming from newer industries.

Given the evolving market for small satellite launch vehicles, the company plans to scale its operations to support around 25 launches per year using its mobile launchpad Dhanush at Indian Space Research Organization (ISRO) facilities and become a significant player in this market.

“We want to become the strongest player globally for small satellites to go to orbit. Our core technologies were crafted keeping such a solution in mind,” explained Ravichandran, adding that today no one questions the ability of building a rocket by a startup.

Earlier this year, the company carried out a sub-orbital test flight of its home-built 3D-printed semi-cryogenic rocket—Agnibaan—from its own launch pad at Sriharikota.

Agnikul has also developed its proprietary electronics, software, and hardware. The cofounder also claimed that their current costs offer one of the cheapest launch vehicles in the world.

Speaking about the first 3D-printed engine used by the startup, Ravichandran said the company will focus on capitalizing on it in the future as a separate part. “3D printing, or additive manufacturing, is ideal for aerospace, especially for products with low part counts but high complexity. This approach allows for greater precision and reliability in our engine.”Speaking about the burgeoning space ecosystem, Ravichandran believes that a little more awareness among investors and suppliers on how large this market is would also help India grow as a global space power.

In 2024, the global funding for Small Satellite Launch Vehicles (SSLV) reached $ 499.4 million, according to data from Tracxn—market research platform. In comparison, India’s SSLV sector saw a total funding of $ 64 million in 2023.