OXG Space raises Rs 17 crore from Aum Ventures, Skyroot Aerospace co-founders

Spacetech startup OXG Space has raised Rs 17 crore in a funding round led by Aum Ventures through its India Innovation Fund II.

The round also saw participation from Skyroot Aerospace co-founders Pawan Kumar Chandana and Bharath Daka, along with Cosmoserve founder Dr Chiran Phanindra.

The Bengaluru-based startup will use the fresh capital to advance Mission Synapse, a 12-month programme to demonstrate its satellite connectivity, in-orbit computing and power technologies.

Founded by former ISRO engineers Akash Shetty and Sanjay Gorur, OXG Space is developing an orbital network that combines satellite connectivity with in-orbit computing. The company aims to process Earth observation (EO) data in space and deliver intelligence in near real time.

Earth observation satellites can take 4–12 hours to deliver insights as they wait to pass over ground stations. OXG Space aims to reduce this delay through in-orbit data processing for defence, intelligence and commercial customers.

The founders bring over 17 years of combined experience in India's space programmes, including work on spacecraft systems for Chandrayaan-2 and Chandrayaan-3.

The investment highlights growing interest in India's spacetech sector, particularly in satellite connectivity and orbital computing.

Earlier in May, Skyroot Aerospace raised $60 million at a $1.1 billion valuation, making it  India's first space-tech unicorn.