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Newspace Secures $52 Mn in bridge Round

NewSpace Research and Technologies (NRT) based in Bengaluru, designs and develops Persistent Drones for Earth Observation and Communications has secured $52 Million in a bridge Round. NRT received $33 Mn of equity from marquee investors and $19 Mn debt from SBI’s startup hub and SIDBI.

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Newspace platforms operate from 5km to 20 km with varied endurance (few days to months). NRT’s High Altitude Pseudo Satellite (HAPS) UAV would have an endurance of 3+ months and is at the cutting edge of Aerospace Technology with only a handful of global firms as competitors.

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“I was impressed with the speed at which the leadership has built capabilities and the potential of some of the dual-use technologies being built, especially in communication and logistics,” said Ranjan Pai, chairman of Manipal Group, who has invested in the current round.

“It’s not an easy path, but the timing for an Indian company to be amongst the top five in this industry transformation across the world couldn’t be better,” Julius Amrit, co-founder and COO of NRT.

About Newspace

Founded in 2018, India’s fastest growing Aerospace & Defence R&D company. NRT’s vision is to be a leader in creating Unmanned Aerospace Systems for the global market from India. NRT is today developing multiple programs in Next Generation Mission & Technologies (NGM&T) in Aerospace and Defence for Military and Civilian use by the Indian Ministry of Defence, National Disaster Response Force, Ministry of Home Affairs, Department of Telecommunications and more.

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