New Delhi, March 14 The Tamil Nadu Industrial Development Corporation (TIDCO) will invest ₹25 crore in Chennai-based Agnikul Cosmos under the TIDCO Startup Investment Policy 2025.
Established in 1965, TIDCO is a leading industrial development agency of the Tamil Nadu government, and undertakes joint ventures and facilitates large-scale industrial and infrastructure projects in the state.
This latest investment will help Agnikul accelerate its operational readiness, supporting the scaling of its aerospace manufacturing capabilities, advancing its stage recovery program, and strengthening the development of its integrated space campus on the 300 acres allocated by the Tamil Nadu government near Kulasekharapatnam.
In a statement, Moin SPM, co-founder and COO of the company, said, "This investment from the state government is a strong motivation for all of us to build and give back to the local community."
Agnikul is currently scaling its first orbital launch with Agnibaan, a small satellite launch vehicle capable of carrying payloads to orbit, and is simultaneously advancing its recoverable booster program, aimed at making it the world's first fully recoverable small satellite launch vehicle.