Manastu Space Raises Rs 22 Crore — Startup Funding India, October 2026

Spacetech startup funding in India has a fresh data point: Mumbai-based Manastu Space has raised Rs 22 crore in what appears to be an extension of its Series A round, according to regulatory filings accessed by Inc42 and reported on 30 October 2026.

Who backed the Rs 22 crore extension

The money came from Gandhi Securities and Investments, the Thacker Legacy Trusts, and a clutch of angel investors. The filings also show the company initially issued compulsorily convertible preference shares worth a further Rs 2.5 crore to an individual investor, which were later cancelled. Separately, the startup is reported to be in line for a further Rs 9.2 crore from Capital A, but that tranche is not yet confirmed, and the final round size could still change before closure.

What Manastu Space builds

Founded in 2017 by Tushar Jadhav and Ashtesh Kumar, Manastu is developing a green propulsion system for satellites, coupled with in-orbit refuelling technology and debris-avoidance systems aimed at reducing the risk of orbital congestion. The filings state the fresh funds will support research and development, growth, expansion, marketing and general corporate activities.

The bigger funding picture

The extension follows close on the heels of a much larger government-backed commitment: the Ministry of Science and Technology's Technology Development Board (TDB) recently committed Rs 116 crore to Manastu in the form of optionally convertible debentures. Before this round, the startup had raised around $9 million from investors including Capital A, Capital 2B, Indian Angel Network and E2MC, most recently a $3 million Series A extension in August 2025 to commercially roll out its green propulsion and debris-avoidance system.