Funding · AI & Deep Tech

Tamil Nadu agency invests ₹25 Cr in Agnikul Cosmos

By Startup Enthusiast · 19 March 2026

What they do

Agnikul Cosmos builds small-lift launch vehicles and 3D-printed rocket engines for space missions

TIDCO invested ₹25 Cr under the state's new Startup Investment Policy 2025 for deeptech firms

This marks the first investment under the policy which targets aerospace and advanced manufacturing startups

TIDCO invested ₹25 Cr in Agnikul Cosmos under Tamil Nadu Startup Investment Policy 2025.
Approval letters were handed to Agnikul and Raptee Energy on March 14, 2025.
This is the first investment made under the state's new startup policy framework.
The policy focuses on deeptech and advanced manufacturing startups in sunrise sectors.
TIDCO is the Tamil Nadu government's industrial development agency established in 1965.
Agnikul previously raised $17 Mn at a $500 Mn valuation from private investors.
Raptee Energy also received ₹25 Cr as part of the same initial batch of investments.

The policy targets sectors like aerospace, EVs, semiconductors, and AI for strategic growth.
Deeptech saw 87 funding deals totaling $500 Mn in 2025 across India.
Over 21% of new funds announced last year had explicit deeptech mandates.
The Union Cabinet approved a ₹1 Lakh Cr RDI scheme to boost research.

Agnikul develops small-lift launch vehicles for deploying satellites into orbit.
Its flagship rocket Agnibaan can carry payloads up to 300 kg to ~700 km orbit.
The company claims to have created the world's first single-piece 3D-printed rocket engine.
This semi-cryogenic engine is called Agnilet and is used in their launch vehicles.
Founders Srinath Ravichandran and Moin SPM started the company in 2017.

TIDCO (lead) — Tamil Nadu Industrial Development Corporation, a state government agency.
Advenza Global (existing) — Previous investor in Agnikul Cosmos.
Artha Select Fund (existing) — Previous investor in Agnikul Cosmos.
Atharva Green Ecotech (existing) — Previous investor in Agnikul Cosmos.
HDFC Bank (existing) — Previous investor in Agnikul Cosmos.

Product: Reusable small-satellite launch vehicles and related launch infrastructure.
Customers: Satellite operators and space customers that need launch access.
How it makes money: Launch services and related aerospace engineering contracts.
What sets it apart: It is focused on recoverable rocket stages and reusable launch architecture.
Operations: It is expanding testing and manufacturing facilities in Chennai.