VestaSpace Technology Pvt. Ltd, a Pune-based space technology company building small satellite platforms for commercial and scientific applications, announced it has raised $10 million in funding from Next Capital, a US-based investment management and advisory services firm.
The company will use the fund infusion to enhance its technological infrastructure and scale up its operations, the company executives told VCCircle.
“VestaSpace technology is aiming to acquire greater momentum by enabling businesses to leverage the potential of small and nanosatellites in India,” Arun Kumar Sureban, founder at VestaSpace, said.
Arun Kumar Sureban, who is an alumnus of the University of Southern California, has worked with i-Logicon Control Automation, according to his LinkedIn profile.
VestaSpace was set up by Arun Kumar Sureban in 2018. The company says it helps startups and mid-sized businesses to access the benefits of small satellites, satellite communication, sensors and connected devices.
The company has been working with institutions including the Indian Space Research Organisation and is firming up global expansion plans.
Vestaspace claims that the Spacecraft platforms developed by the company will cater to the needs of various Governments, Multi-National Companies, Universities & Research Institutions for applications such as technology demonstration, communications & earth observation missions.
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