Maharashtra-based InspeCity, a space tech startup, has raised $1.5 million in a Pre-Seed funding round led by Speciale Invest, a deep-tech venture capitalist. 

The round was co-led by Antler India and Veda VC. Other investors, who participated in the round were Anicut Capital, DeVC India and others. The recent pre-seed funding is a clear indication of the growing support for InspeCity's mission to build advanced autonomous robotic platforms for in-space servicing. It will also be channelised to develop the tech stack within the company and attract quality talent to accomplish the mission and vision.  

The company will utilise the raised capital to achieve two objectives. It will demonstrate that a defunct satellite can be docked with a deorbited satellite using its Vehicle for Life-Extension and Deorbiting Activities (VEDA) on an air-bearing platform, where both satellites will move without friction. Additionally, it will focus on technological advancements and expanding the team. 

Founded in mid-2022, InspeCity has a mission to build the first city in a suitable orbit between Earth and the moon, addressing the problem of resource scarcity on Earth. The company is currently developing enabling technologies for building those cities, with autonomous robotic platforms being a key technology that allows them to service satellites in all orbits.

Addressing the fundraising, Arindrajit Chowdhury the CEO of Inspecity, said, "We are grateful for the support of our investors as we pursue our mission to build the first city in space. This will tremendously help us further develop our technology for in-orbit servicing and autonomous robotic platforms. Our vision is to create a new economy in space and build human habitats that transcend the limitations of our current planetary systems. We are excited to have our investors join us in this journey toward the future of space exploration and development.”

Commenting on their decision to invest, Visesh Rajaram, the managing partner at Speciale Invest, said, “We are very excited to support InspeCity's ambitious mission to build cities in space. The company's innovative technology, particularly its autonomous robotic platforms and in-orbit servicing capabilities, holds promise for the future of space exploration and development. We have immense confidence in InspeCity's ability to achieve its goals and are proud to be part of its journey. We look forward to collaborating with the team and backing them to their success."