Compare Companies
| Field | 🇮🇳 Bellatrix Aerospace | 🇮🇳 Skyroot Aerospace | 🇮🇳 Agnikul Cosmos | 🇮🇳 Dhruva Space |
|---|---|---|---|---|
| Type | private | private | private | private |
| Country | 🇮🇳 India | 🇮🇳 India | 🇮🇳 India | 🇮🇳 India |
| Founded | 2015 | 2018 | 2017 | 2012 |
| CEO | Rohan M Ganapathy | Pawan Kumar Chandana | Srinath Ravichandran | Sanjay Nekkanti |
| Mkt Cap / Valuation | — | $1.1B (Series D unicorn round, post-money) | $500M+ (Series C extension, post-money) | — |
| Employees | ~90 (India), targeting ~115 EOY 2026 + up to 6 US-based | ~537 | ~250 | 200+ |
| Sector | In-Space Propulsion | Private Launch (India) | 3D-Printed Small-Lift Launch | Satellite Manufacturing & Mission Services |
| Last raise / Last filing | $20M (2026-03-27) | $60M ($50M primary + $10M structured debt) (2026-05-07) | $17M (₹150 Cr) (2025-11-22) | ~$4.2M (₹38.7 Cr) extending Nov 2025 ₹51.76 Cr ($6M) tranche (2026-03-15) |
| Top risks | Customer concentration on ISRO / NSIL — diversifying to international commercial customers is mid-execution and unproven at scale.; Production-scale execution — the company is shifting from prototype to series manufacturing of electric thrusters; yield and unit economics on Hall-effect thrusters are challenging globally. | Maiden-flight failure risk on Vikram-1 — a first-launch mishap would push commercialization into 2027 and force an emergency funding round.; Intense global small-lift competition: Rocket Lab Electron, Firefly Alpha, and ISRO's own SSLV all target the same 350-500 kg class with proven flight heritage. | Orbital-flight execution risk — clustering seven engines with stage separation has historically been a primary failure mode for new small-lift vehicles.; Direct domestic competition from Skyroot Aerospace, which has 2x the funding ($160M vs. ~$75M) and a head-start on its orbital debut. | Mission integration is a thin-margin business globally — Dhruva must move up to higher-value satellite-platform sales and operated-services to achieve venture-scale returns.; Dependence on PSLV cadence and NSIL allocations — any ISRO launch delays or PSLV manifest reshuffles directly impact Dhruva's revenue timing. |
| Next catalyst | First Pushpak OTV demonstration flight on an NSIL mission (2026-2027) | Vikram-1 maiden orbital flight from Sriharikota (2026-06) | Agnibaan first orbital flight from ALP, Sriharikota (2026-Q4 / 2027-H1) | PSLV-C62 multi-payload mission with Dhruva-integrated stack (2026) |
Maximum 4 companies. Pass slugs in the ids query parameter, comma-separated. Try SpaceX vs Blue Origin vs Rocket Lab vs Firefly.