Manastu Space Raises ₹22 Crore to Advance Green Satellite Propulsion Technology

Navi Mumbai-based spacetech startup Manastu Space has raised ₹22 crore from Gandhi Securities and Investments, the Thacker Legacy Trusts and a group of angel investors in what appears to be an extension of its Series A funding round. Founded in 2017 by Tushar Jadhav and Ashtesh Kumar, the company is developing green propulsion systems for satellites, along with in-orbit refuelling and space-debris avoidance technologies. Inc42 reported the funding based on the company's regulatory filings.

Manastu Space plans to use the capital for research and development, business expansion, marketing and general corporate activities. Its proprietary hydrogen peroxide-based fuel is designed as a less harmful alternative to conventional propellants such as hydrazine, with the company claiming up to 50% higher performance. The reported private fundraise is separate from a ₹116 crore funding commitment from the government's Technology Development Board to support its propulsion technology development.

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