OXG Space Raises $1.79 Million to Strengthen Orbital Network
Bengaluru-based spacetech company OXG Space has successfully raised $1.79 million in a recent funding round. The investment was led by Aum Ventures, with participation from notable individuals such as Pawan Kumar Chandana, Naga Bharath Daka, and Chiran Phanindra. The company, co-founded by Akash Shetty and Sanjay Gorur, focuses on creating a persistent connectivity and compute infrastructure for satellites. By transforming isolated satellites into an interconnected orbital network, OXG Space aims to enhance real-time data processing and transmission.
Founders and Vision
Akash Shetty, Co-Founder and CEO, and Sanjay Gorur, Co-Founder and CTO, are the driving forces behind OXG Space. Both bring their expertise as former engineers from the Indian Space Research Organisation (ISRO), contributing to the company's innovative approach to satellite connectivity.
Strategic Use of Funds
The newly acquired funds will be directed towards "Mission Synapse," a 12-month program designed to demonstrate OXG Space's core technologies in orbit. This initiative seeks to address the delays in satellite data transmission, which can range from four to 12 hours depending on current communication methods. By developing an orbital network that combines satellite connectivity with in-orbit computing, the company aims to significantly reduce these delays and improve the delivery of Earth-observation data.
Investor Participation
Aum Ventures led the funding round, emphasizing the growing interest in satellite technology innovations. Additionally, the involvement of industry veterans like Pawan Kumar Chandana and Naga Bharath Daka, co-founders of Skyroot Aerospace, along with Chiran Phanindra, founder of Cosmoserve, highlights the potential impact of OXG Space's technology on the broader spacetech ecosystem.