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India's space-tech startups are attracting billion-dollar valuations and investor interest, but weak revenues and uncertain commercial prospects raise questions about the boom's sustainability.
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.
More than 65% of the commitments for the first close came from overseas Limited Partners (LPs), or investors.
The funding round was co-led by Sherpalo Ventures and Singapore's sovereign wealth fund GIC.
