Compare Companies
| Field | 🇰🇷 InnospaceKOSDAQ: 462350 | 🇮🇳 Skyroot Aerospace | 🇮🇳 Agnikul Cosmos | 🇩🇪 Isar Aerospace |
|---|---|---|---|---|
| Type | public | private | private | private |
| Country | 🇰🇷 South Korea | 🇮🇳 India | 🇮🇳 India | 🇩🇪 Germany |
| Founded | 2017 | 2018 | 2017 | 2018 |
| CEO | Soojong Kim | Pawan Kumar Chandana | Srinath Ravichandran | Daniel Metzler |
| Mkt Cap / Valuation | ~₩175B (~$125M) | $1.1B (Series D unicorn round, post-money) | $500M+ (Series C extension, post-money) | Over €1B (unicorn status confirmed July 2025 following Eldridge €150M convertible bond) |
| Employees | ~140 | ~537 | ~250 | ~430 (Ottobrunn HQ, plus Andøya launch operations) |
| Sector | Small Satellite Launch | Private Launch (India) | 3D-Printed Small-Lift Launch | European Small-Satellite Launch |
| Last raise / Last filing | — | $60M ($50M primary + $10M structured debt) (2026-05-07) | $17M (₹150 Cr) (2025-11-22) | €150M (~$174M) (2025-06-25) |
| Top risks | Maiden orbital flight failure (Dec 2025) — second consecutive failure on the next attempt would be existential; Cash runway — IPO proceeds are partly consumed; pre-revenue cost structure requires successful orbital flight by late 2026 | 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. | Flight 2 outcome is the dominant risk — the first Spectrum flight on 30 March 2025 was terminated by the Flight Termination System ~30 seconds after liftoff due to a vent-valve opening and roll-control loss; a second consecutive failure would be near-existential; Production ramp from one rocket per year (R&D cadence) to 6–10 per year (commercial cadence) is unproven and capital-intensive; the €150M Eldridge convertible buys runway but a Series D is required |
| Next catalyst | HANBIT-Nano second orbital launch attempt (2026 Q3) | Vikram-1 maiden orbital flight from Sriharikota (2026-06) | Agnibaan first orbital flight from ALP, Sriharikota (2026-Q4 / 2027-H1) | Second Spectrum flight 'Onward and Upward' — qualifying mission with first paying customer payloads (5 cubesats + 1 experiment) (Q2 2026 (most recently scrubbed April 9, 2026 due to suspected COPV leak; rescheduling underway)) |
Maximum 4 companies. Pass slugs in the ids query parameter, comma-separated. Try SpaceX vs Blue Origin vs Rocket Lab vs Firefly.