OrbitAID Secures $1.5 Million Pre-Seed Funding to Advance Satellite Refueling Technology
Space technology company OrbitAID has raised $1.5 million in a pre-seed funding round led by Unicorn India Ventures, with participation from the Tamil Nadu Startup and Innovation Mission (TANSIM). The funding will support the company’s efforts to develop on-orbit servicing technologies, including the demonstration of its Standard Interface Docking and Refueling Port (SIDRP) in space.
OrbitAID, based in Chennai and founded in 2021 by Sakthikumar R, Nikhil Balasubramanian, and Mano Balaji K, focuses on sustainable space operations through satellite refueling solutions. The company aims to extend satellite lifespans and reduce space debris with its patented SIDRP, which enables on-orbit docking and refueling.
In the past year, OrbitAID achieved Technology Readiness Level (TRL) 7 for its docking and refueling technology and completed microgravity testing of key components. The SIDRP system was successfully tested in zero-gravity conditions during a flight in Florida, demonstrating its capability for docking and refueling operations.
The funds raised will be allocated toward conducting in-space demonstrations, advancing SIDRP to commercial readiness, expanding facilities for servicing operations, and scaling the company's team to meet project demands. OrbitAID also aims to achieve TRL 6 for its refuelable propulsion system within the next year and secure commercial refueling contracts.
Unicorn India Ventures, a key investor in the round, expressed confidence in OrbitAID’s potential to address the growing demand for space infrastructure solutions. Bhaskar Majumdar, Managing Partner of Unicorn India Ventures, highlighted the market opportunities in the space technology sector and the significance of innovations like SIDRP in enabling efficient satellite servicing.
The funding positions OrbitAID to advance its mission of sustainable space operations while contributing to the development of scalable and commercially viable satellite refueling technologies. The company is targeting both commercial and defence sectors with its solutions.