India Deal Monitor: pi Ventures backs space tech startup Agnikul and more updates

Chennai-based space tech startup Agnikul has raised about $3.1 million in a pre-Series A funding round led by early stage venture fund pi Ventures, it announced Wednesday.

The round also saw the participation of Hari Kumar (LionRock Capital), Artha Ventures, LetsVenture, Globevestor, CIIE and existing investor Speciale Invest, the startup said in a statement.

Agnikul plans to use these funds for ground testing, fabrication and team expansion.

Agnikul, operating out of the National Centre for Combustion Research at IIT Chennai, is developing a satellite launch vehicle for a payload capacity of up to 100 kgs. The vehicle is configurable and can support the payload range of 30-100 kgs without impacting the economics.

Since the engine is fully 3D printed, the manufacturing complexity associated with traditional rocket engines is moved to the design in their case, making it an easier and cheaper fabrication process that will be able to deliver launch vehicles within a few weeks, pretty much on demand.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India from March 17-19, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
AgnikulChennai3.1 millionpre-Series Api VenturesHari Kumar, Artha Ventures, LetsVenture, Globevestor, CIIE, Speciale InvestTechnology
Vivriti CapitalChennai50 millionSeries BLGT Lightstone Aspada-FinTech
CoreStackSeattle, Chennai8.5 millionSeries ANaya Ventures-Technology
OYOGurugram807 millionSeries FSVF India Holdings, RA Hospitality-Hospitality
Nimesa Technology Pvt LtdBengaluru1 million-Ideaspring Capital-Software

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.