Spacetech startup Manastu Space, deeptech firm Datoms, drone maker Urban Matrix and flexible workspace platform Qdesq have secured early-stage funding, the companies said on Thursday.
Manastu Space has raised $3 million (Rs 25 crore) in a pre-Series A funding round led by Indian Angel Network.
The round also saw participation from angel investors like KRS Jamwal, executive director of Tata Industries, Jaideep Mehta, Sanjiv Bajaj, and Nitin Zamre, amongst others.
Manastu will use the fresh funds to develop its green propulsion system for satellites. Besides, it will implement its eco-friendly propulsion system, autonomous collision avoidance system and further develop its research and development initiatives.
Manastu Space provides complete propulsion systems to satellite manufacturers including fuel, engine, tank and accessories to satellite manufacturers. They also plan on providing in-space services like in-space refueling, life-extension and de-orbiting at the end of the life of the satellite to their customers as part of a product service ecosystem.
The company counts entities like French startup Latitude and iDEX, the defense innovation organisation, as part of its client portfolio.
Datoms
Phoenix Robotix Pvt Ltd, which operates Datoms, has raised $1.2 million (Rs 10 crore) in a pre-Series A funding round from YourNest Venture Capital.
The funding will be used to develop Datoms’ product offering, improve its in-house artificial intelligence/machine learning capabilities and expand its presence across India and the Middle East markets.
Founded in 2021, the Bhubaneswar-based startup was founded by Amiya Samantaray, Nataraj Sahoo, Amrit Biswal, and Asish Sahoo. Datoms help human-capital heavy sectors, such as construction, warehousing, agriculture, mining, and ports, to achieve efficiency and automate various processes related to asset maintenance and activity planning.
By using Datoms' solution, businesses can reduce fuel expenses, manage both stationary and mobile fleets of machines, simplify compliance procedures, and streamline communication among various stakeholders.
The startup has offices in Bhubaneswar and Bengaluru and a customer base of 100 customers globally.
Urban Matrix
Urban Matrix has raised $720,886 (Rs 6 crore) in a pre-Series A funding round led by Inflection Point Ventures, with participation from O2 Angels.
The funds will be utilised for product development, team expansion, and expansion into new markets.
Founded in 2019 by Rishabh Verma, Ashutosh Kumar, Divyanshu Pundir and Ajay Karthik, UrbanMatrix manufactures industrial drones and software used in drones for a variety of use cases including survey, surveillance, agriculture, AI-aided inspection, and defence.
The company offers quantum encryption technology along with cloud integration for data safety, guaranteeing reliability and ease of use for clients across different industries, making drone operations safer and more efficient.
UrbanMatrix has also undertaken partnerships with ISRO, Paras Aerospace, and ATV.
“The drone industry is a sunrise sector with potential market opportunities. Urban Matrix has developed end-to-end drone solution products which aim to capture a range of use cases and expand geographically,” said Vikram Ramasubramanian, partner, Inflection Point Ventures.
Qdesq
Qdesq has raised an undisclosed amount in a funding round from proptech-focused venture capital firm Gruhas.
Founded by Paaras Arora in 2015, Qdesq operates a flexible workspace marketplace and brokerage platform (Qdesq.com). Along with Qdesq, the company is building an enterprise software-as-a-service (SaaS) platform called Qudify, which upgrades and digitises enterprises and workspaces with QR-based visitor management, meeting rooms and complaint management system.
Its marketplace platform claims to have 4300 centers listed on its platform across 100 cities in India. The platform provides services like coworking, private offices, and on-demand workspaces like meeting rooms, virtual offices and day passes.
"It is our second investment from a venture capital firm after JLL Spark. This investment will enable us to improve our overall team strength and capability, thus fuelling growth and scale in both businesses.” said Arora, founder and chief executive officer, Qdesq.
