Space Tech Startup InspeCity Raises Pre-Seed Round

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InspeCity, a space tech startup, has raised $1.5 million in a pre-seed funding round co-led by Speciale Invest, Antler India, and Veda VC. Other investors, including Anicut Capital and DeVC, also participated in the round. The funds will be used to demonstrate InspeCity’s technology for in-orbit servicing, specifically to show that a defunct satellite can be docked with a vehicle for life-extension and deorbiting activities (VEDA) on an air-bearing platform. InspeCity’s engineers are currently creating a fleet of VEDAs equipped with robotically inserted guidance systems (RIG) for satellite servicing, active debris removal, and satellite deployment in all orbits. In the long term, the company plans to leverage the extensive fleet of RIG-equipped VEDAs to build large-scale human habitats in space. InspeCity’s technology and long-term vision are well-suited to meet the increasing demand for non-GEO satellite constellations, making it an important player in the growing space industry. Previously, the company raised a Rs 1.5 crore grant from the iDEX platform and Rs 10 lakh from the TIH Foundation at IIT Mumbai for the development of micropropulsion systems for cubesats and technological support to develop an inter-satellite link, respectively.

InspeCity claims that its technology and long-term vision are well-suited to meet the increasing demand for non-GEO satellite constellations, making it an important player in the growing space.