--- title: "IN-SPACe Offers Rs 67 Cr to Four Space Startups | bharat.digital" description: "The second round of the Technology Adoption Fund takes the number of backed companies to seven. Money will flow in stages against milestones." url: "https://bharat.digital/originals/in-space-taf-rs-67-cr-manastu-inspecity-vyomic-mumbaisemi/index.md" canonical: "https://bharat.digital/originals/in-space-taf-rs-67-cr-manastu-inspecity-vyomic-mumbaisemi/" published: "2026-10-31T20:25:00+05:30" updated: "2026-10-31T20:25:00+05:30" section: "Originals" type: "startup" author: "bharat.digital desk" image: "https://bharat.digital/img/originals/in-space-taf-rs-67-cr-manastu-inspecity-vyomic-mumbaisemi-auto-9697f07e-og.jpg" language: "en-IN" site: "bharat.digital" --- # IN-SPACe offers Rs 67 Cr to four space startups for iodine thrusters, refuellable engines, space clocks and a NavIC chip *The second round of the Technology Adoption Fund takes the number of backed companies to seven. Money will flow in stages against milestones.* By bharat.digital desk. Startup, Startups & Fintech. Published 2026-10-31T20:25:00+05:30. 2 min read. ![IN-SPACe offers Rs 67 Cr to four space startups for iodine thrusters, refuellable engines, space clocks and a NavIC chip](https://bharat.digital/img/originals/in-space-taf-rs-67-cr-manastu-inspecity-vyomic-mumbaisemi-auto-9697f07e-hero.webp) ## At a glance - Company: Manastu Space, Inspecity, VyomIC and MumbaiSemi - What it does: Iodine Hall effect thrusters, refuellable microsatellite propulsion, space grade clocks and a NavIC and GPS receiver chip - Based in: Mumbai - Latest: Offered Rs 67.15 Cr under IN-SPACe Technology Adoption Fund - Date: 2026-10-31 IN-SPACe, the Department of Space agency that authorises and promotes private space activity, has selected four Indian companies for funding offers worth Rs 67.15 crore under its Technology Adoption Fund (TAF), PTI and India Today reported on October 31. The companies are Manastu Space, Inspecity Space Laboratories and MumbaiSemi from Maharashtra, and Bengaluru based VyomIC. The fund is meant to help private firms absorb, adapt and commercialise advanced space technologies, and this round takes the number of companies it has backed to seven, after Astrobase Space Technologies, SatSure Analytics India and TM2SPACE Technologies were picked in June 2026. The largest offer, Rs 22.08 crore, goes to Manastu Space to build an iodine based Hall effect thruster for small satellites, with the thruster, power processing unit and a modular iodine feed and tank in one system, according to the IN-SPACe statement carried by IndianWeb2. Solid iodine can be stored without the heavy high pressure tanks that xenon needs, which should make fuelling simpler and the system cheaper. IN-SPACe says only a few companies worldwide have built or are building such a thruster, and Manastu would be the first in India. Inspecity Space Laboratories has been offered Rs 21.18 crore for a refuellable propulsion system for microsatellites with six degrees of freedom, built around a green bipropellant and an integrated refuelling port, which could later support servicing in orbit. VyomIC, the brand of AeroDome Technologies, gets Rs 12.55 crore to develop highly stable and secure clocks that combine miniature atomic clocks with oven controlled crystal oscillators, aimed first at navigation services from low Earth orbit. MumbaiSemi, or IMumbai Semiconductor, has been offered Rs 11.34 crore for a multi channel receiver chip that reads both NavIC and GPS signals. IN-SPACe chairman Pawan Goenka said the two propulsion projects were chosen because these products are being developed for the first time in India, and that home grown clocks and NavIC chips would cut dependence on foreign chipsets. "Through these technologies, India can build a more complete domestic space ecosystem, expand industry participation and create export opportunities for Indian companies," he said. The money will be released in stages as each company hits agreed milestones. For Manastu, this is the third funding item in a week. The Technology Development Board committed Rs 116 crore in optionally convertible debt on October 26, and Inc42 reported on October 30, citing regulatory filings, a separate Rs 22 crore equity raise from Gandhi Securities and Investments, the Thacker Legacy Trusts and angel investors. The IN-SPACe offer is a different, milestone linked grant for the iodine thruster project. ## Sources 1. [India Today: IN-SPACe backs four Indian startups with Rs 67 crore. What are they building?](https://www.indiatoday.in/science/story/india-space-startups-funding-satellite-engines-navigation-chips-inspace-3029271-2026-10-31) 2. [News18 (PTI): IN-SPACe offers Rs 67 cr to four Indian space firms to develop indigenous tech](https://www.news18.com/agency-feeds/in-space-offers-rs-67-cr-to-four-indian-space-firms-to-develop-indigenous-tech-10406897.html) 3. [IndianWeb2: IN-SPACe Offers Rs 67 Crore to Four More Indian Space Companies Under Technology Adoption Fund](https://www.indianweb2.com/2026/10/in-space-offers-67-crore-to-four-more.html) 4. [Inc42: Exclusive: Manastu Space Raises Rs 22 Cr In Ongoing Funding Round](https://inc42.com/buzz/exclusive-manastu-space-raises-%e2%82%b922-cr-in-ongoing-funding-round/) Written by the bharat.digital desk from the sources above. Figures are as reported by those sources.