Space startup Agnikul raises ₹150 crore

Aerospace startup Agnikul has raised ₹150 crore in a Series C round, two people familiar with the matter told Mint, after its earlier plan to raise up to $50 million failed to draw sufficient investor interest.

- Rwit Ghosh [e-mail]

“This is a separate fundraise from the $50 million that the company had been looking to raise since last year,” said the first of the two persons cited earlier, both of whom spoke on the condition of anonymity.

“Both the rounds ran parallelly but an existing investor put in a term sheet for a lower amount,” this person said. “The $50 million round didn't happen, as there wasn't demand or investor appetite at the time.”