Srinath Ravichandran and Suyash Singh on overcoming failure in spacetech

India’s private space companies are being built through persistence rather than easy access to capital or mature supply chains. Srinath Ravichandran and Suyash Singh described an industry where founders must manage investor rejection, technical failures, regulation, and expensive hardware risks. Their experiences show why practical, step-by-step progress matters.

AgniKul began in 2017, when private-space rules and deeptech funding were still developing. Ravichandran faced 275 investor rejections. Singh faced roughly 100. AgniKul pursued a pay-per-kilogram launch model, while GalaxEye built OptoSAR, combining optical imaging and synthetic aperture radar. Both companies used focused milestones instead of rigid master plans.

The sector is growing, but serious obstacles remain. Funding rounds of $100 million or more are scarce, and specialised components can require European suppliers. Still, defence demand is rising, Indian engineers are staying or returning, and employee stock options are strengthening the talent base. The founders see these shifts helping India’s private spacetech ecosystem mature.

OptoSAR combines two ways of observing Earth: optical cameras and synthetic aperture radar. Optical cameras capture visual information, while radar uses signals to map or detect surfaces. Bringing them together can provide a more complete picture than either method alone. This matters because Earth observation supports surveillance and other time-sensitive decisions.

GalaxEye developed OptoSAR as a patented, world-first technology. The article highlights its ability to view Earth through clouds and darkness. Optical imaging can provide rich visual detail, while radar helps maintain observation when cloud cover or nighttime limits ordinary cameras. Their combined use is the core mechanism behind the system’s advantage.

The technology is especially relevant as geopolitical conflicts increase demand for space-based surveillance. Singh called defence one of the largest markets because space-based surveillance is becoming mandatory rather than optional. However, the company’s own satellite later lost communication, showing that promising sensing technology still depends on reliable spacecraft hardware and operations.

The founders’ rejection counts reveal how difficult deeptech fundraising can be in India. Ravichandran faced 275 investor rejections before AgniKul secured initial backing. Singh encountered roughly 100 rejections at GalaxEye. Together, those figures represent about 375 rejections, although the article gives Singh’s number as an estimate.

The funding challenge continues beyond the earliest stage. Growth-stage capital and funding checks of $100 million or more remain scarce for Indian spacetech companies. Deeptech investors must fund heavy research and development long before companies produce long-term returns. That timing makes aerospace ventures harder to finance than businesses that can scale more quickly.

The founders responded by pursuing manageable milestones and business models designed for Indian conditions. AgniKul aimed for commercial viability at $50 million to $60 million, rather than requiring half a billion dollars before generating revenue. This approach does not remove funding needs, but it can reduce the capital barrier to reaching commercial operations.

GalaxEye lost communication with its spacecraft 30 days after launching India’s largest private liquid satellite. The satellite had initially attracted global praise, so the sudden loss turned a celebrated mission into a major operational setback. Singh presented the event as part of the failures that space companies must learn to handle.

Communication links are the main connection between operators on Earth and a spacecraft in orbit. If that link is lost, operators may be unable to receive the satellite’s measurements or send commands. They may also struggle to determine whether the fault lies in power, onboard systems, antennas, or another component. The article does not identify the specific cause.

The setback demonstrates why space hardware is unforgiving. A satellite cannot be easily repaired after launch, and every mission depends on many systems working together. For GalaxEye, the incident reinforced the importance of perseverance and failure management. For the wider sector, it shows that successful deployment does not guarantee reliable operations.

Defence is becoming a major market because governments need timely information about activity across large and difficult-to-monitor areas. Space-based Earth observation can provide a broad view from orbit. Singh linked the opportunity directly to worsening geopolitical conflicts, saying surveillance from space is no longer optional but mandatory.

GalaxEye’s OptoSAR illustrates the type of capability this market needs. Its optical cameras and synthetic aperture radar are designed to observe Earth through clouds and darkness. That combination can support persistent monitoring when ordinary visual observation is limited. The company’s satellite experience also shows that useful data depends on dependable spacecraft operations.

Rising demand does not remove the sector’s challenges. Space companies still face failures, scarce growth capital, and supply-chain bottlenecks. Yet defence demand may provide an important commercial path for firms developing advanced sensors and launch services. As geopolitical pressure continues, the article presents surveillance as a strong reason for India’s private spacetech market to expand.

Traditional aerospace programmes can require about half a billion dollars before generating revenue. AgniKul offers a different path by breaking development into smaller milestones and targeting commercial viability at $50 million to $60 million. This matters in India, where deeptech capital is limited and founders cannot assume enormous early funding.

Its business model treats the rocket as a cargo carrier to orbit, charging by the kilogram for small-satellite transportation. AgniKul also tested 3D-printed engines, which can support a frugal manufacturing approach, and uses a mobile launchpad. It is now testing reusable rocket stages, aiming to bring hardware safely back to Earth and reduce future launch costs.

These choices are alternatives to spending heavily before proving demand. They do not eliminate technical risk or the need for substantial investment. Instead, they spread risk across milestones and connect engineering progress to revenue. Following its successful May 2024 test launch, AgniKul is preparing for orbital customer flights.

The article focuses on business and operational challenges, not the mechanics of orbit. In general, a launch vehicle carries a satellite upward, then accelerates it sideways to reach the speed needed for orbit. The rocket releases the spacecraft at a carefully selected altitude and trajectory. The satellite then uses its own systems to operate in that orbit.

A launch vehicle must control thrust, guidance, staging, and timing while passing through intense vibration and changing atmospheric conditions. The spacecraft must survive launch, deploy its systems, generate power, communicate with Earth, and perform its mission. A small fault can prevent deployment, interrupt data transmission, or end the mission.

The article gives two examples of this unforgiving environment. AgniKul is testing reusable stages to return hardware safely to Earth. GalaxEye lost communication with its spacecraft just 30 days after launch. These cases show why rocket launches and satellite operations require precise engineering, testing, reliable components, and careful ground support.