Exclusive: Bellatrix Aerospace in Talks to Raise $50–100 Mn Series B

Spacetech startup Bellatrix Aerospace is in talks to raise $50–100 million in a Series B round from existing as well as new investors, as it looks to scale manufacturing and expand beyond satellite propulsion into satellite platforms.

Speaking to Outlook Business, co-founder Rohan Ganapathy said discussions for the round have already begun and the company is looking to close the fundraise over the next six to eight months.

The company has raised around $40 million so far. Earlier this year, it secured $20 million in a pre-Series B bridge round.

Alongside the fundraising, Bellatrix has also built a sizeable order pipeline. The startup has signed orders worth around ₹700 crore across its propulsion systems and satellite businesses.

The order book is expected to be realised during FY27 and is largely backed by international customers across the US, Europe, Japan and Korea, serving communication and Earth observation satellite makers.

Founded in 2015, Bellatrix Aerospace develops advanced propulsion systems for satellites. By the end of this year, the company plans to launch a new class of satellites designed to operate in Very Low Earth Orbit (VLEO), at altitudes of around 180–200 km.

Unlike conventional Low Earth Orbit satellites that operate at 500–600 km, Bellatrix's VLEO satellites fly much closer to Earth, at around 180–200 km. They use an air-breathing electric propulsion system that uses atmospheric particles as fuel, helping the satellites stay in orbit despite greater drag in the VLEO.

The fundraising comes at a time when India's private spacetech ecosystem is witnessing rapid momentum. Earlier this month, Skyroot became the first private startup globally to achieve an orbital rocket launch on its maiden attempt, placing India alongside the US and China with private players executing orbital launches.

Capital has also begun flowing into the sector. Skyroot raised a $50 million Series C round in May 2026, becoming the country's first spacetech unicorn with a valuation exceeding $1.1 billion.

According to Tracxn, five landmark fundraises across Skyroot, Digantara, EtherealX, Bellatrix Aerospace and AgniKul in 2025 and 2026 have together accounted for $158 million, more than half of all capital deployed in the sector during the period.

India's private spacetech startups have collectively raised more than $871 million across 241 funding rounds as of July 2026. Funding into the sector has risen sharply, from $43 million across 12 rounds in 2021 to a record $200 million across 53 rounds in 2025, reflecting growing investor confidence in the country's emerging space ecosystem.