Mumbai-based spacetech venture Manastu Space has secured $3 million in an extended Series A round spearheaded by Capital-A, with continued backing from Capital 2B, Indian Angel Network (IAN), E2MC, the Bhagnani Family Office, and Jeet Chandan.
The newly raised capital will fuel the commercial launch of Manastu’s green propulsion and debris mitigation solutions, while accelerating the development of in-orbit servicing capabilities such as satellite refuelling, controlled deorbiting, and mission life extension.
The company also intends to broaden its footprint into the US, European, and Asian markets, collaborating with satellite manufacturers, constellation managers, and system integrators.
Founded in 2017 by Tushar Jadhav and Ashtesh Kumar, Manastu Space is on a mission to create environmentally sustainable propulsion systems for satellites. Its flagship innovation, VYOM 2U, a non-toxic propulsion alternative, was successfully demonstrated aboard PSLV C-60 in December 2024.
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With ambitions to transition from Technology Readiness Level 8 (TRL-8) to TRL-9—signifying operational maturity in space—the startup’s MS-289 propellant delivers 50% greater performance than conventional options while reducing ecological impact. Its refuellable architecture enables longer satellite missions and mitigates space debris risks.
Manastu’s growing portfolio of partnerships includes contracts with DRDO, French aerospace company Latitude, and India’s iDEX defence innovation program. Positioned in a market forecast to reach $40 billion by 2040, the company is shaping the future of sustainable and efficient space operations.
