Pune: Indian Space Tech startup BAAS Technologies has raised ₹5 crore in a pre-seed round led by Inflection Point Ventures. The round also saw participation from SINE IIT Bombay and a group of private angel investors. The funds will go toward R&D on liquid and solid propulsion systems, building out the static test facility and manufacturing infrastructure, procuring equipment and raw materials, growing the engineering and operations team, regulatory compliance, and upcoming engine and flight-testing milestones.
BAAS Technologies builds reusable sub-orbital and orbital launch vehicles for research institutions and commercial space players. The company designs and develops its own solid and liquid rocket propulsion systems, and its upcoming 100 kN Rocket Propulsion Testing Facility in Pune will support static fire testing, engine validation, and commercialisation as BAAS moves toward its next stage of growth.
Speaking on the announcement, Ankur Mittal, Co-Founder, Inflection Point Ventures, said, “BAAS is building an end-to-end launch vehicle platform that reflects the company’s strong engineering capabilities and its clear understanding of the growing demands of the global space economy. By developing cost-effective and reliable launch solutions, the company is addressing the crucial market gap in small satellite access to space. We believe BAAS is well-positioned to capitalise on the increasing demand and contribute to India’s emergence as a leading space-tech innovation hub.”
Commenting on the investment, Tanmay Kanmahale, Co-Founder & CEO, BAAS Technologies, said, “As a founder building in the space sector, where many ideas are dismissed at a very early stage due to the complexity and risk involved, finding the right investment partner matters as much as raising the capital itself. We look for investors who share the same conviction and long-term view as we do. This round with Inflection Point Ventures is a significant step for BAAS, and it puts us in a stronger position to build our launch vehicles, grow our engineering team, and contribute to India’s private space sector.”
The company has already run paid pilot programmes in India and is now expanding commercially into Latin America, the Middle East, Southeast Asia, and Australia.
The company is registered in Nashik, with its R&D office and propulsion testing facility in Pune, Maharashtra. The BAAS team brings together expertise in propulsion, avionics, aerostructures, simulation, and manufacturing, and works with local and global suppliers, university technology partners, and industry experts to move product development forward. BAAS is incubated by SINE IIT Bombay, ARAI-AMTIF, and AIC-JKLU.
BAAS Technologies was founded in 2024 by five co-founders who first met on the STES Rocketry Team in 2020: Tanmay Kanmahale (Co-Founder & CEO), Prashant Patil (Co-Founder & CTO), Atharva Pingale (Co-Founder & COO), Swayam Sonar (Co-Founder & CPO), and Shriniwas Hase (Co-Founder & Director).
The founders have represented India at international rocketry competitions on multiple occasions, building relationships with aerospace universities and research institutions across South America, North America, and Europe along the way. Those ties now give BAAS access to technology exchange, research collaborations, and engineering practices that feed directly into its launch vehicle development.
The global space launch services market is growing on the back of rising demand for satellite deployment, Earth observation, communication, and defence applications, from roughly USD 25.3 billion in 2026 to a projected USD 41.3 billion by 2030, at a CAGR of around 15.6%.
India’s domestic satellite launch services market is expected to grow from USD 399 million in 2025 to USD 1.58 billion by 2033, at 18.2% CAGR. The country’s broader space economy, currently around USD 8 billion, is projected to reach USD 40-45 billion within the decade, leaving room for indigenous players like BAAS.
