Published On: November 13th, 2020
Technology is advancing at a super-fast speed. Last three decades, we have seen growth in the IT industry, robotics, and biotechnology. There is a vast opportunity in the space industry and Srinath Ravichandran and Moin SPM had an eye to recognize this and finally created Agnikul Cosmos. The story of successful entrepreneurs Srinath and Moin teaches us perseverance, hard work, and determination in our own business.
The idea behind initiating startup Agnikul was getting into space, not a difficult task for the likes of the co-founders. After knowing particular facts, everyone would recognize the success story of the company Agnikul Cosmos. No doubt, this is one of the inspirational startup stories. In 2016, the success story of company Agnikul Cosmos was on paper and vision only.
Within five years, it has become one of the leading companies to manufacture, test, and launch orbital-class rockets. These rockets are for micro and nanosatellites. The startup was built at The National Center for combustion R&D at IIT Chennai. Launch of smaller satellites at a lower cost is the foremost goal of the company. Agnikul Cosmos has used 3D printing technology to build launch vehicles. The company has around 65 employees working for it.
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Agnikul has partnered with Alaska Aerospace Corporation. Agnikul has signed a memorandum of Agreement with Alaska Aerospace corporation to test the Indian Agnibaan rocket from Alaska on Kodiak Island in the USA. Agnikul and Alaska Corporation will also work together to secure several regulatory approvals. The company may launch Agnibaan from 2022 onwards.
Mark Lester, CEO of Alaska Aerospace, said ~ “ We are thrilled to have partner like Agnikul for high inclination flight testing”
Listing of Agnikul is also on Host Mi- a standardized and digital requirement management platform. It provides matchmaking between space payloads and payload hosts. European Space Agency supports Host Mi and helps Agnikul to strengthen customer access in Europe. Agnikul has got an official partnership with Italian company Leaf Space for ground station services.
The company has even signed up with a launch port in South Australia and is exploring more launch ports worldwide. Agnikul has also been part of the Airbus Bizlab accelerator program. Recently Agnikul had the opportunity to show their indigenous product and solution to the Honourable Prime Minister Narender Modi. Many of the best Venture Capital firms have provided startup funding to Agnikul.
TEAM OF AGNIKUL COSMOS
- Srinath Ravichandran (Co-founder)
Srinath Ravichandran provides the story of a successful entrepreneur to us. Srinath did a Bachelor in Electrical Engineering from the College of Engineering, Guindy, and completed a master’s degree in Financial Engineering from Columbia University and Aerospace Engineering from the University of Illinois. He has got good hands-on experience in Engineering, Finance, and Project Management.
He always had a desire to get involved with the space industry. Srinath called many people to understand his vision. Finally, he got a reply from one of them. The rest is all history for us. He had no experience in the Aerospace industry. Interest in control orbital mechanics, space mission system design and Electric propulsion are reasons for his success.
The success story of company Agnikul Cosmos is the fulfilment of his dream. It is becoming the most read inspirational startup story.
- Moin SPM (Co-founder)
Moin SPM has completed a Bachelor’s degree in Aeronautics from Anna University, Chennai, and an MBA from the University of New Castle, Australia. He has good experience in manufacturing, Engineering Management, and Supply Chain Operations. Before Agnikul, he had a contract manufacturing company in the Consumer Packaging Goods sector.
He was fascinated with space technologies and that led him to start Agnikul Cosmos with Srinath. His narration is also the story of a successful entrepreneur for us.
OTHER KEY TEAM MEMBERS
There are many pivotal members involved in the success story of the company. SR Chakravarthy, Professor & Head NCCRD, IIT- Chennai, is in the advisory team to Agnikul and an accomplished Rocket Scientist. RV Perumal, another advisory associate has achieved Padma Bhushan and is also the director of the GSLV Project. Another prominent member of their team is N Shekar, Retired Head of AIDAT, and MD of CDG Boeing.
PRODUCTS OF AGNIKUL COSMOS
Agnikul has manufactured 3D printed engine (Agnilet). It can take a thrust of 3 KN from sea level. It has fabricated uniquely designed pressure vessels to store liquid propellants and pressurant. Assembling and manufacturing of Agnibaan (customized rocket) are also one of the best accomplishments of Agnikul.
It has got a maximum payload of 100 Kg. Agnite is another engine and has enhanced payload capacity. Dhanush- the launch pedestal to give the ability to launch Agnibaan from multiple launch ports is also another indigenous product by Agnikul.
Agnite and Agnilet both are semi cryogenic engines. Both engines are manufactured through additive manufacturing and in a single piece. Another area where Agnikul Cosmos is investing their time, money, and efforts are Turbopumps. It has multiple components in it- motor, drives, battery, etc. The launch of the Agnibaan rocket is expected by 2022. These products have attracted the best Venture capital firms for startup funding to Agnikul.
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COMPETITORS OF AGNIKUL COSMOS
Other competitors of Agnikul Cosmos are Bellatrix Aerospace, Dhruva Space, Skyroot Aerospace, Ananth Technologies, Manastu Space, and Astro Me. Bellatrix Aerospace Pvt. Ltd. is the biggest rival of Agnikul. It generates $ 1 million[efn_note]Agnikul’s Competitors, Revenue, Number of Employees, Funding, Acquisitions & News[/efn_note] more revenue than Agnikul.
Dhruva space is another top competitor of Agnikul and set up in 2012. They also work in the aerospace sector. Skyroot is a private company founded in 2018 in Hyderabad, it also operates in the aerospace industry. Internationally, it gets competition from Boeing, I-Space China, Morpheus Space, and ABL Space Systems. Boeing is an aerospace company and they manufacture jetliners, defence, and space systems.
I-Space China develops commercial carrier rockets. They also provide systematic launch service. Morpheus Space is a company that manufactures a spacecraft propulsion system. ABL Space Systems is a company that manufactures rockets for small satellites. Space X, led by Elon Musk, is another competition for Agnikul. Another rival company of Agnikul is Arca Space. They manufacture manned and unmanned aircraft for space exploration.
FUNDING FOR AGNIKUL
Agnikul has raised a total of Rs. 264 million[efn_note]Agnikul Cosmos Financials[/efn_note] in two rounds of funding. Seven best Venture Capital firms have financed Agnikul. Artha India Ventures, Speciale Invest, Pi ventures, Globevestors, Lionrock Capital, Lets Venture, CIIE are the best Venture Capital firms and managed to provide startup funding to Agnikul.
Recently Agnikul Cosmos has raised Rs. 3 Crore[efn_note]Space startup Agnikul Cosmos raises INR 3 crore in seed funding[/efn_note] in seed funding. Vishesh Rajaram and Arjun Rao of Speciale Incept Advisors are the main sponsors for funding. Agnikul previously raised Rs. 23.4 Crore[efn_note]Startup Agnikul raises Rs 23.4 crore to put small satellites into space[/efn_note] in startup funding led by pi Ventures.
These funding’s have helped Agnikul Cosmos to write the turnaround success story of the company. Everyone would love to read and scrutinize such inspirational startup stories and such stories of successful entrepreneurs can be quite encouraging.
Manish Singhal of pi ventures said, “We are proud to partner with Srinath and Moin and believe Agnikul can be an example of world-class innovations from India.”
The company has decided to use the capital for ground testing, fabrication, and team expansion.
Srinath Ravichandran said, “The round of investment from pi ventures, Speciale invest is velocity boost for our journey, and we get much closer to the orbit.”
Agnikul is a company of innovation and has the potential to push India to Space. Agnikul is making small satellite rockets and it has established itself as a leading rocket technology company. Agnikul is aiming to become the first company to put an Indian small satellite into space.
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