India backs Manastu Space with $12.2M to ready green propulsion for deployment
What's the deal? India's Technology Development BoardDealroom has a profile for this one. Try Dealroom → has committed US$15.8M (roughly $12.2 million) to Mumbai-based Manastu SpaceDealroom has a profile for this one. Try Dealroom → Technologies to advance its indigenous green propulsion system for satellites and launch vehicles. The support, signed on October 26, comes as optionally convertible debt under the government's Research Development and Innovation Fund.
What's the endgame? Manastu is developing a scalable propulsion system built on a hydrogen peroxide-based green propellant, paired with an integrated engine and ultra-high-temperature ceramic catalyst. The design covers thrust from 5mN to 300N, spanning small satellites to higher-thrust applications.
The funding aims to lift the technology from Technology Readiness Level (TRL) 6 to TRL 9 — the stage at which a system is ready for deployment. Manastu's system has already been demonstrated in space; the money will fund further engineering, integration, testing, and validation.
Why now? Conventional spacecraft propellants can be hazardous, requiring specialised handling and ground infrastructure. Green propulsion seeks to cut those operational burdens while keeping the performance space missions demand.
By the numbers: The project carries a total cost of US$37.7M, with the TDB support forming part of it. The award ranks around the 91st percentile by size among convertible rounds for hardware startups in India, based on 688 comparable deals.
What could go wrong? Reaching TRL 9 is a substantial step beyond prototypes. The key test will be whether engineering and validation translate into operational systems and paying customers.
Rajesh Kumar Pathak, secretary of the Technology Development Board, said indigenous propulsion is important "for strengthening India's capabilities across the space value chain." The RDI Fund, he added, backs technology-intensive projects that need sustained investment to move from development towards deployment.
The signal: India's private space sector has moved into a higher-growth phase, with startups raising about $871 million across 241 rounds by July 2026 — including propulsion peer Bellatrix. Government-backed convertible debt like Manastu's reflects a policy push to build domestic capabilities and cut reliance on externally sourced technology.
Read more: indiatoday.in
Image credit: Manastu Space
