The Indian space-tech industry, though still in its infancy, is brimming with potential. Over the past decade, the country has witnessed a notable rise in private space technology enterprises. According to the Space Impulse Market Intelligence Platform, nearly 200 startups now operate across diverse upstream and downstream segments, showcasing the sector’s growing dynamism. Among these promising ventures is Synodic Space Labs Private Limited, led by its founder and CEO, Prakhar Jain. In a conversation with Tech Achieve Media at the Startup Mahakumbh, Jain shed light on his company’s journey, innovations, and the challenges shaping India’s space-tech ecosystem
TAM: Tell us a little bit about Synodic Space Labs Private Limited?
Prakhar Jain: Synodic Space Labs Private Limited officially launched on June 30, 2022, though its research and development efforts began in 2020. The company is divided into two primary subdivisions: one focuses on space education, and the other specializes in space research and development. Within the research and development division, we are actively working on our own launch vehicle, with a major emphasis on propulsion systems and onboard flight computers.
Also read: India’s Space Industry Witnesses Major Growth in 2024 with Private Sector Push
In propulsion systems, our goal aligns with the industry’s shift towards reusability, a priority for most space startups. However, we are transitioning from traditional liquid propulsion systems to hybrid rocket propulsion systems. Why this shift? Liquid propulsion systems are significantly costlier and more complex. Hybrid propulsion systems, on the other hand, are more affordable, directly reducing overall launch costs. This strategic choice positions us to offer more cost-effective solutions compared to established players like SpaceX.
For solid rocket propellants, we are embracing greener alternatives. This decision is driven by the expectation that Environmental, Social, and Governance (ESG) goals will soon become a priority in the space sector, possibly within the next five years. By adopting greener propellants now, we aim to stay ahead of the curve. Additionally, during our research, we made an accidental yet valuable discovery: these propellants produce a lower heat signature, opening up applications in various other sectors.
In the education sector, we organize technical workshops for schools and universities, as well as night sky observation events. For instance, during the planetary parade earlier this year (January-February), we hosted an event in Ranchi in collaboration with Sardabilda University. Over two days, approximately 700 students observed four planets in alignment, three galaxies, and two nebulas, using our fleet of telescopes.
We are now preparing for an exciting summer camp in collaboration with Nehru Planetarium, scheduled from May 20 to May 25. This event will offer school students hands-on experiences in rocketry, CubeSat technology, astrophotography, astronomy, and telescope usage. Additionally, the camp will feature a science exhibition where students can present their innovative ideas. The top 10 students will win a chance to visit an ISRO facility, sponsored by us. This summer camp is being organized in collaboration with the Ministry of Culture, the Prime Minister’s Museum and Library, ISRO, and InSpace.
TAM: What are the partnerships you have in place to help scale operations?
Prakhar Jain: We are actively collaborating with InSpace and have recently served as their training partner for a model rocketry competition held at the CTI Air Force Station in Bangalore. Additionally, we are in the process of becoming an ISRO-certified tutor for space education. With support from InSpace, we are set to launch our rocket in June. InSpace is currently establishing a model rocketry test launch facility in Uttar Pradesh, and we are proud to be among the first companies to launch and test our rocket from this state-of-the-art facility.
TAM: What are some of the common challenges you face?
Prakhar Jain: The research and development process itself demands significant funding, amounting to thousands of crores. Based on our projections, we estimate that approximately Rs 1,020 crores will be required to complete our R&D phase. Following that, the focus will shift to manufacturing and revenue generation. However, raising funds has been a significant challenge. One major obstacle is the reluctance of venture capitalists (VCs) in India to invest in this sector. The space industry requires time, at least 5-6 years, for launch systems to become market-ready and start generating revenue.
This long timeline makes many VCs hesitant, as they prefer opportunities that promise quicker returns. Out of the 70-80 prominent VCs in India, only 5-6 are currently willing to invest in the space sector. This reluctance poses a significant challenge for us. Additionally, accessing technology is another hurdle. Much of the specialized software we use is prohibitively expensive, costing nearly Rs 10 lakhs per license. Fortunately, InSpace has been instrumental in addressing this issue by establishing a comprehensive facility in Ahmedabad. Startups like ours can use their hardware and software resources, significantly reducing costs and barriers. InSpace is also actively supporting the space ecosystem in other ways, including the creation of a Rs 1,000 crore VC fund for space startups. We remain optimistic that we will be able to secure a portion of this funding to further our endeavors.
TAM: What is the support that you require from the Indian Government?
Prakhar Jain: The primary challenge is the need for funding. As Piyush Goyal mentioned yesterday, many venture capitalists (VCs) are currently focusing their investments on sectors like food and other industries. While these startups are undoubtedly valuable and contribute to India’s growth, there is a noticeable gap when it comes to funding deep-tech ventures.
Take China as an example, they are making rapid technological advancements, such as developing an artificial sun, among other achievements. In contrast, India is lagging in this area. Why? The primary reason is a lack of funding in the deep-tech sector.
India, for instance, does not have its own AI model. Instead, we rely on adapting existing models from other countries. This is not due to a lack of talent but rather the absence of adequate resources. Developing such technologies requires massive servers, substantial teams, and significant investments. Unfortunately, many Indian innovators and researchers are compelled to move abroad to work on similar projects because the necessary support isn’t available domestically.
The government has taken commendable steps to promote industries like space and deep tech, such as establishing InSpace. These efforts have been instrumental in fostering growth, but the core issue remains the lack of sufficient funding. To truly advance, the government needs to prioritize funding for deep-tech sectors. By providing the necessary financial support, we can retain our talent and accelerate India’s progress in technology and innovation.
