SpaceFields Bags $5 Mn to Develop Rocket Propulsion Systems

SpaceFields, a Bengaluru-based deeptech startup founded in 2021 and incubated at IISc, has raised US$5 million (≈ ₹42 crore) in a pre-Series A round led by Globaz Technologies, with participation from Rockstud Capital, Venture Catalysts, Rainmatter (Nithin Kamath), VC Grid, Burla Angel Network, Faad Capital, SIDBI, O2 Angels, and the MeitY Startup Hub. EconomictimesB2B.com+2Medial+2 SpaceFields develops solid-fuel rocket propulsion systems for defense, aerospace, UAVs, rockets, and spacecraft applications. The new funds will go into scaling manufacturing capacity, securing regulatory certifications, expanding engineering, operations, and business teams. EconomictimesB2B.com+1 The company has already secured four contracts under the Ministry of Defence’s iDEX initiative and holds around ten patents (with several granted) related to their in-house propulsion technologies. EconomictimesB2B.com+1 The investment is seen as both a boost to indigenous aerospace / defence capabilities and part of India’s growing space-tech/deep-tech startup wave.