The three companies are the first beneficiaries under the scheme, which was launched earlier this year. They were chosen after a multi-stage evaluation process involving experts from ISRO, the Department for Promotion of Industry and Internal Trade (DPIIT), the Department of Science and Technology (DST), academia, industry and IN-SPACe, the agency said in a statement on Thursday.
The Rs 500-crore TAF scheme was launched by IN-SPACe in February to help startups and companies commercialise early-stage space technologies. The fund supports up to 60% of project costs for startups and MSMEs, subject to a cap of Rs 25 crore per project.
What they will do
Astrobase Space Technologies, based in Bengaluru, will develop an 800-kN reusable liquid rocket engine powered by liquid oxygen (LOX) and liquefied natural gas (LNG). The company said the engine is aimed at medium- and heavy-lift launch vehicles and could serve as a commercial propulsion solution for next-generation launch systems.
SatSure Analytics India will build Dhaarini, a large Earth observation model designed as an artificial intelligence foundation model for remote sensing applications. The platform is expected to generate insights across sectors such as agriculture, infrastructure and disaster management using satellite and aerial imagery.
Hyderabad-based TM2SPACE Technologies will develop an indigenous AI-powered star tracker system for satellites. The technology is intended to improve satellite pointing accuracy, a critical requirement for high-resolution Earth observation and communications missions.
More funding support
“The selection of these projects under the Technology Adoption Fund marks a pivotal step in our mission to transform Indian private entities into global space leaders,” said IN-SPACe chairman Pawan Goenka. “These projects are not just innovative concepts; they are practical, market-ready solutions that will increase our footprint in the global space economy.”
The TAF-backed projects add to a growing pool of government support for spacetech startups. Separately, a Rs 1,000-crore venture capital fund managed by Sidbi Venture Capital Ltd is being rolled out to support nearly 40 space startups across the value chain over the next five years.
Rajeev Jyoti, director of the technical directorate at IN-SPACe, said the selected projects address critical technology gaps in India’s space ecosystem and have strong commercial potential.