Agnikul Cosmos to set up new facility in Tirupati with ₹510 crore investment

Chennai-based space startup Agnikul Cosmos has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to set up an orbital platform and rocket production facility in Tirupati's Space City, as reported by The Hindu BusinessLine. The company will invest ₹510 crore for this project.

This new facility will be established in Tirupati, complementing the company's existing facilities in Chennai. Agnikul Cosmos co-founder and CEO Srinath Ravichandran and co-founder and COO Moin SP are involved in this plan.

Agnikul Cosmos is one of five space startups that have announced plans to begin operations in Andhra Pradesh. These five companies include Agnikul Cosmos, Astrobase, Spacefields, Ethereal X, and Skyroot Aerospace. These companies will set up their facilities in the state.

Under this plan, Astrobase will start its operations in Anantapur, while Spacefields, Ethereal X, and Skyroot Aerospace will set up their facilities in Tirupati. Thus, Andhra Pradesh is becoming an important hub for space sector startups.

Agnikul Cosmos is a space sector company that works on technology related to rockets and orbital platforms. The company's headquarters is located in Chennai and it is known for developing innovative facilities for space research.