Joint press release: Investors including BASF Venture Capital and Inflexor Ventures agree to invest $8 million in Series A investment round in Bellatrix Aerospace

  • Bellatrix is ​​one of India’s pioneers in the development of technologies for space propulsion systems and orbital launch vehicles
  • The company will use this investment to further develop and accelerate the market launch of its innovative propulsion systems and modern space transportation technologies.

Bengaluru and Mumbai, India, Ludwigshafen, Germany, June 01, 2022– Bellatrix Aerospace Pvt. is launching a Series A funding round led by BASF Venture Capital GmbH, the venture capital arm of BASF SE, and Inflexor Ventures, a venture capital fund focused on advanced technologies and intellectual property. The round also includes participation from StartupXseed, Pavestone Capital, Mankind Pharma family office, Survam Partners, Karsemven Fund and other leading family offices and angel investors.

Over the past ten years, the number of satellites in space has increased almost tenfold[1] and based on announced missions of the private sector is likely to multiply rapidly in the next ten years[2]. Space propulsion systems that reduce costs and use more environmentally friendly technologies are increasingly relevant to the growing satellite market. Orbital Transfer Vehicles are becoming the new way to reach orbit on rideshare missions for micro and small satellites.

Founded by Rohan Ganapathy and Yashas Karanam in 2015, the Bengaluru-based company has pioneered several industry firsts, including the world’s first commercial microwave plasma thruster, the first Hall effect thruster system of privately built in India and the first high performance green propulsion system in India. . The company is committed to ESG compliance and sustainability with its push on greener technologies. The Microwave Plasma Thruster uses water as its propellant and the Green Monopropellant Thruster uses a proprietary high performance fuel and catalyst, which are not only more environmentally friendly but also easier to handle than conventional fuels used for satellite propulsion systems . The company aims to use the funds for the development and testing of its 4 thruster modules and commercialize its technology by the end of the year. The funds are also being used for the company’s evolution into a full-fledged space transportation technology company with its unique Orbital Transfer Vehicle capable of rapidly deploying customer satellites into their orbits as well as performing missions on the geostationary orbit (GEO) and beyond. Bellatrix has secured contracts from the Indian Space Research Organization (ISRO) and other undisclosed clients. Space qualification testing is expected to be completed in the coming months.

Rohan M Ganapathy, CEO and CTO of Bellatrix Aerospace, said: “We are delighted to welcome new investors on our journey to become a key player in the global space technology industry. Pre-Series A funding helped us complete the development of With this investment, we will expand our product portfolio, add to our existing talent pool to broaden our expertise, augment our state-of-the-art infrastructure and focus on the validation of our products in space. ”

“Inflexor has always had a keen interest in technological advancements affecting the space sector, and this is evident from our investment in Bellatrix since our first fund, right from their funding round. We see the space industry growing exponentially and the Bellatrix products will play a major role in democratizing access to the space industry with their cost-effective and energy-efficient thruster systems ideal for small satellite manufacturers,” said Venkat Vallabhaneni, Managing Partner, Inflexor Ventures.

“The technologies being developed for use in space have the potential to provide many opportunities for the chemical industry, for example in new materials and for innovative applications of chemistry on earth and in orbit. In India in particular, this industry is currently experiencing an unprecedented upswing,” says Markus Solibieda, Managing Director of BASF Venture Capital GmbH. “It is BVC’s task to invest in young companies with disruptive technologies. We are pleased to be able to support Bellatrix, a rising company with promising technologies for the space industry, and we look forward to exploring opportunities for collaboration,” adds Marcus.

[1] Union of Concerned Scientists Database 2021

[2] Internal estimates based on announced private sector missions

About BASF Venture Capital

At BASF, we create chemistry for a sustainable future. BASF Venture Capital GmbH (BVC) also contributes to this corporate purpose. Founded in 2001, BVC has offices in Europe, the United States, Canada, China, India, Brazil and Israel. BVC’s objective is to generate new growth potential for BASF’s current and future business areas by investing in young companies and funds. Investments focus on new materials, AgTech, digitalization and new disruptive business models.

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About Bellatrix Aerospace

Founded in 2015, Bellatrix Aerospace is a total solution provider of space propulsion systems based in Bengaluru, India, offering both chemical and electric propulsion technologies. The company has established one of Asia’s largest research facilities at SID-IISc for building technologies for satellite propulsion and has developed a strong intellectual property portfolio around technologies that are redefining mobility in the world. ‘space. In recognition of its innovations, Bellatrix has won various accolades for its innovation, including two national awards.

About Inflexor Ventures

Inflexor Ventures is an early-stage, deep-tech, intellectual property-focused venture capital firm investing in next-generation technology-backed founding teams that are changing the way we live and work. The fund’s mission is to find and support bold founders building technologies that define the future. The focus areas are space technologies, climate technologies, health technologies, financial technologies, consumer technologies, clean technologies, educational technologies, deep technologies and agricultural technologies, among others.


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