Recent News
Selection of Recent Transactions
DATE TARGET ACQUISITION
Jan 2024 DCX Systems The dairy product producer raised ~₹166 Cr. in a Series-E fundraise led by Temasek
Jan 2024 Clean Max Energy Sansera Engineering acquired a 26% stake in the clean energy provider for ~₹20 Cr.
Jan 2024 Acro Paints JK Paints acquired a 20% stake in the paint manufacturer for ~₹53 Cr.
Jan 2024 Ascent Circuits Amber through ILJIN Electronics acquired 60% stake in the PCB manufacturer
Jan 2024 Blu Smart Mobility The EV ride hailing platform raised ₹208 Cr. in a round led by Responsibility Investments
Growing Opportunities in the Indian Space Sector
The Indian Space economy is estimated to be US$10 billion p.a. (globally US$550 p.a.), with rising participation from private players. The sector has been experiencing significant shifts lately due to two main developments:
The regulatory environment has also become more conducive. While the sector was liberalized in the 1990s through the enablement of Satellite communication and Remote Sensing Data Policies (RSDP) it is only recently that we have seen the sector really open up with the establishment of NSIL (commercial arm of ISRO) in 2019, IN-SPACe (to simplify clearances for private space technology companies) in 2020, the National Geospatial Policy in 2022 and the Indian Space Policy 2023.
The increase in number of space missions, advent of small satellites (which now form ~90% of ISRO’s launches), push to ‘Make in India’, and regulatory support have resulted in the evolution of the traditional components suppliers.
In the Indian Space Tech sector, sensing the great market opportunity and following global cues, there has been a proliferation of companies across Upstream (Satellite hardware) and Downstream (Earth Observation and Communication). Some of the primary target audiences for these startups include – Govt. space agencies and industries in Telecommunications, Aerospace, Earth Observation, R&D institutions, Defense, Private Space Travel, Logistics, Mining, and the Energy sector. We also saw the first satellite launch by private player Pixxel in April 2022 and the rocket launch into space by Skyroot in Novembe 2022.
Praveen Nair
Director
IMAP India
Puneet Kochar
Executive Director
IMAP India