Established in 1965, TIDCO is a premier industrial development agency of the Tamil Nadu government, and undertakes joint ventures and facilitates big industrial and infrastructure projects in the state.
The latest investment would help accelerate Agnikul’s operational readiness, supporting the scaling of its aerospace manufacturing capabilities, advancing its stage recovery program, and strengthening the development of its integrated space campus on the 300 acres allocated by the Tamil Nadu government near Kulasekharapatnam.
In a statement, Moin SPM, cofounder and COO of the company, said, “This investment from the state government is a strong motivation for all of us to build and give back to the local community.”
Agnikul is currently scaling its first orbital launch with Agnibaan, a small satellite launch vehicle capable of carrying payloads to orbit, and is simultaneously advancing its recoverable booster program, aimed at making it the world’s first fully recoverable small satellite launch vehicle.