PRIVATE ROCKET FIRM
Skyroot Aerospace partners with Brazil's Concert Technologies for satellite launch vehicle development
Skyroot Aerospace and Brazil's Concert Technologies have signed a Memorandum of Understanding for collaboration. This agreement focuses on developing a satellite launch vehicle for payloads of at least 100 kilograms. The partnership aims to provide affordable access to space for both countries in conjunction with the global space industry. They plan to evaluate technological requirements and commercial prospects over the next two years.
Neocloud firm Argentum AI in talks for $5 billion AI chip financing, sources say
One of the people said the money would pay for additional chips for the data center Argentum secured in Poland with DL Invest Group, and that the debt is meant for chips leased to customers that do not have investment-grade ratings.
India aims to expand space economy from USD 8.4 billion to USD 44 billion amid rising private participation: IN-SPACe official
Rising demand for low Earth orbit satellites is expected to enhance India's space industry growth. A new Small Satellite Launch Vehicle launch pad will increase launch capacity in Tamil Nadu. The government's reforms have facilitated increased private participation in space activities. Various funds and technology transfers aim to support startups and enhance their capabilities. The Indian space economy is targeted to expand significantly over the next decade.
Sat Sovereign, Not Satrapi: Why India can't get locked in with one side in satcom battle
Elon Musk argues that Starlink can benefit underserved rural areas of India through improved connectivity. The ongoing debate surrounding satellite communications in India is focused on pricing and market control. Countries are competing for access to low-Earth orbit frequencies and altitudes, which are limited resources. India has an opportunity to create a non-aligned satcom policy to ensure equitable access.
Eternal’s strong Q2 report; Exits outpace hiring at top IT firms
Happy Thursday! Eternal’s Q2 revenue surged on Blinkit’s growth. This and more in today’s ETtech Morning Dispatch.
Skyroot eyes funding boost; MDR deferment cheers D2C brands
Happy Thursday! Skyroot is eyeing a big funding round as it gears up to scale rocket production. This and more in today’s ETtech Morning Dispatch.
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India first, orbit next: Skyroot eyes $300 million dual valuation plan
Skyroot is in talks with Indian family offices to raise $150 million at a valuation of $2.3-2.5 billion, while the company is seeking to mop up the same amount from global investors such as General Catalyst, General Atlantic and Silicon Valley venture fund Benchmark at a higher valuation of up to $3 billion, the people said.
Zetwerk IPO eyes big returns; Flipkart alumni seek Esop buyback
Zetwerk’s early investors are poised for big gains as the platform prepares to go public. This and more in today’s ETtech Top 5.
US bond selloff resumes as 10- and 30-year yields hit fresh 24-year highs
US Treasuries are facing significant selling pressure as yields hit new highs, fueled by ongoing inflation concerns. Higher oil prices have exacerbated worries about sustained inflation in the market. The 10-year and 30-year bond yields have soared to their highest levels in 24 years. Additionally, rising corporate borrowing is vying for investor capital, contributing to supply constraints. Amid these dynamics, the Treasury plans to auction $39 billion in 10-year notes.
Space-tech’s missing link: The skilled talent powering India’s $100 billion ambition
Space job news: India's space industry is undergoing significant changes, with an increasing presence of private startups contributing to its growth. The government anticipates a boom in the sector, estimating it will reach $100 billion by 2040. However, companies are struggling to find skilled workers with specialized expertise required for various roles. Initiatives to bridge the skills gap include the introduction of SpaceTech courses and enhancing industry-academia collaborations.
Orbital Shift: India's space sector undergoing biggest transformation; pvt firms handle rockets, ISRO focus on more ambitious missions
India's space sector is undergoing significant changes as private companies engage in rocket production and management. The Indian Space Research Organisation is shifting its focus towards more ambitious missions and projects. This transition follows the introduction of the Indian Space Policy 2023, which emphasizes private sector participation. Concerns have been raised by ISRO employees regarding the agency's future and potential loss of capabilities.
Motilal Oswal initiates Buy on Solar Industries, sees 24% upside. 4 reasons why
Motilal Oswal has initiated coverage on Solar Industries with a Buy rating and a target price of Rs 23,000, citing strong growth prospects across explosives and defence. The brokerage expects revenue and profit to grow at 43% and 34% CAGR, respectively, through FY30.
Solar's $1.3 bn bet is a turn for India's defence-industrial complex
The piece argues that Solar Industries’ ₹12,951-crore acquisition of South Africa’s Omnia Holdings could mark a new phase for India’s defence industry, as Indian companies increasingly move beyond domestic production into overseas acquisitions, manufacturing and technology partnerships.
Mid-tier VCs rewrite playbooks to chase India's deeptech bets
So far in calendar year (CY) 2026, deeptech startups have attracted $574 million across 61 deals, which is almost 84% of the $679 million raised across 94 transactions, according to Venture Intelligence data shared with ET. The CY26 data includes large rounds, like satellite imaging startup Pixxel’s $100 million funding and Skyroot’s $60 million, which made it India’s first spacetech unicorn.
$60 billion opportunity! Will defence stocks fire on all cylinders and who will be the biggest beneficiary?
India’s defence sector is entering a new growth phase, with the combat use of indigenous weapons boosting the credibility and export potential of locally developed systems. Defence spending has risen sharply from Rs 2.53 trillion in FY14 to Rs 6.81 trillion in FY26, while the government’s Atmanirbhar Bharat push is creating long-term opportunities.
Late-stage funding squeeze; ISRO opens up space
Happy Tuesday! India’s late-stage funding market is tightening, with investors writing smaller cheques and pushing for lower valuations. This and more in today’s ETtech Morning Dispatch.
Defence exports rise after Operation Sindoor. Jefferies names Solar, Astra, HAL and BEL as top stock picks
Jefferies initiated coverage on Solar Industries and Astra Microwave with Buy ratings, citing strong defence growth prospects and rising order books. It also maintained Buy ratings on HAL and Bharat Electronics while assigning a Hold rating to Bharat Dynamics. The brokerage expects robust earnings growth across these companies, supported by rising defence spending, indigenisation and export opportunities.
ISRO takes NASA route, plans to outsource routine rocketry
The proposed shift has triggered concerns within the space agency, with nine employee associations writing to the Department of Space in a letter on September 4, seeking clarity on reports that production of its rockets SSLV, PSLV and LVM3 could eventually move to the private sector, along with routine satellite manufacturing and the operation of new launch infrastructure.
Why Systematix is bullish on Apollo Micro Systems after 47% YTD rally; check target price
Systematix initiated coverage of Apollo Micro Systems with a Buy rating and Rs 570 target, citing defence-system integration, a Rs 12,000-crore opportunity, capacity expansion, acquisitions and strong earnings growth, while flagging execution, working-capital and tender-related risks.
GPT-6 Astra signals new leap in AI autonomy
Unveiled on Thursday, Astra has outperformed rival models from Anthropic, Google, Meta and Chinese labs Alibaba and Moonshot on key benchmarks for coding, cybersecurity, computer use and reasoning, according to the Sam Altman-led company.
Astrobase in talks to raise $40-50 million led by Peak XV at $300 million valuation: sources
The talks come weeks after Astrobase unveiled Everest, an 80-tonne-class, 800 kN full-flow staged combustion (FFSC) rocket engine, in what the company described as India's first such engine. The engine uses liquid oxygen and methane, and is being developed for reusable launch vehicles.
Rajnath Singh opens DRDO missile tech to private sector
The defence ministry approved technology transfer for DRDO conventional missile systems. This move opens production to the private sector, ending public sector dominance. Private firms can now produce systems at scale and offer tailored advanced variants. This policy aims to reduce import dependence and increase domestic value. It will also support the growth of India's defence manufacturing sector.
China's LandSpace targets $1 billion IPO in reusable rocket tech push
Chinese rocket firm LandSpace is planning a massive IPO. The company aims to raise over a billion dollars. This funding will boost its production and technology for reusable rockets. LandSpace recently conducted a reusable rocket test. This move positions it to compete with global players.
China's second attempt at completing a reusable rocket test fails
China's Long March 12A rocket experienced a setback on its first flight. Its first stage was not recovered successfully. This marks China's second attempt at rocket booster recovery. The country is striving to match SpaceX's reusable rocket capabilities. This technology is vital for reducing launch costs and advancing satellite deployment.
Bain Capital mulls $10 billion sale of Rocket Software, sources say
Global information technology (IT) spending is expected to grow nearly 10% to touch $5.61 trillion this year, according to technology research firm Gartner.
Moon landing puts new space race startups in spotlight
Declining cost of rocket launches is fueling the boom in the private space industry that could reach about $770 billion by 2027, with some estimating that "New Space" firms could account for a sizable chunk of the market. Here are some firms working toward exploring the opportunities.
Rocket for the taking: The govt offer will put private firms into higher orbit
India's private space industry is set for a boost with the transfer of technology of the Small Satellite Launch Vehicle (SSLV) from the Indian Space Research Organisation (ISRO) to private players. ISRO has flown the SSLV twice, with the second mission in February being a success, and is capable of carrying a payload of up to 500kg in a low-Earth orbit.
Senior rocket scientist S Somanath appointed as chief of ISRO
Somanath is currently director of Vikram Sarabhai Space Centre (VSSC), India's rocket development lab in Trivandrum. An alumni of Indian Institute of Science, he led the development of India's most powerful rocket GSLV Mk-3, which will be used for the country's human space mission. Somanath also worked on the workhorse PSLV rocket.
Chinese private space firm launches suborbital rocket
Beijing, Sep 5 (IANS) A Chinese private company launched a suborbital rocket carrying three miniature satellites, for two Chinese commercial companies, into space on Wednesday from the Jiuquan Satellite Launch Centre
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