Bengaluru-based spacetech startup SpaceFields, which was known in 2025 for developing solid-fuel rocket engines and an Aerospike type engine designed to increase launch efficiency, has significantly expanded its capabilities. Initially, the company was a small startup structure incubated by IISc, focused on creating engine technologies and developing production capacities.
Over the past year, SpaceFields has increased both its workforce and the scale of its goals, with the defense sector playing an increasingly significant role in its operations. The company has raised a total of ₹53.5 crore to date, including a pre-Series A round of ₹42.5 crore. These funds were used to establish a 45,000 square foot R&D facility in the Rajajinagar industrial area in Bengaluru, which received DSIR certification. The team size has grown to nearly 60 people, with hires in aerospace engineering, materials, chemistry, avionics, and propulsion systems.
Apurva Masuk, co-founder and CEO, told YourStory that the company is now developing numerous different types of solid-fuel engine systems for various applications. The startup has moved beyond focusing on a single technology; it now creates customized solid-fuel engine systems for different platforms and tasks. Among the company's clients are Bharat Electronics, HAL, Bharat Forge, and several drone startups.
The B2B and B2G segment company has also won five Innovation for Defence Excellence (iDEX) contests and now serves over 16 clients from government and private sectors. Masuk emphasized that the work is similar because these custom solid-fuel engine systems are developed considering the specifics of the platform, as the propulsion system is a subsystem of that platform.
One area of collaboration with defense customers is the refurbishment of aging missile and rocket stocks. Many systems have exceeded their shelf life, and access to their original foreign manufacturers may be limited. Apurva noted that this is a serious problem for the armed forces, and that India needs sovereign capability in this area. Through iDEX projects, SpaceFields has secured several programs for the refurbishment of various missiles.
Furthermore, SpaceFields has signed Memorandums of Understanding (MoUs) with public sector defense enterprises such as Munitions India Limited and Bharat Dynamics Limited. The startup is currently building infrastructure to support larger projects. It has been allocated 121 acres of land in Anantapur, Andhra Pradesh, where a large-scale solid fuel manufacturing plant is planned over the next two years. The Bengaluru site will remain the center for design and R&D.
The CEO stated that they intend to locate the manufacturing facility in Anantapur and plan to create a fuel factory or facility there within the next two years. The company has filed 32 patents, 11 of which have been approved, and continues to utilize the resources and expertise of IISc. The founder believes that the immediate goal is to transform development work into procurement. SpaceFields has integrated its systems into strategic programs related to rockets, missiles, and weaponry through pilot projects and iDEX projects.
He added that large orders are expected concurrently upon readiness for production. The company has achieved cumulative revenue of approximately ₹6.5 crore and was last valued at less than ₹200 crore. Its investors include Globaz Technologies, Rainmatter, Venture Catalysts, Rockstud Capital, and Jamwant Ventures. Masuk believes that the overall ecosystem is moving in favor of SpaceFields due to increased investor interest and government reforms opening up the space and deep-tech sectors. He concluded that the changes, reforms, and implementation over several quarters deserve praise, and the next stage for them is to convert propulsion system expertise into industrial potential and transition from developing solid-fuel engine systems to supplying them in large volumes. SpaceFields is part of YourStory's Tech30 cohort—a showcase of India's most promising startups in 2026, presented at TechSparks Bengaluru.