Date: 11th June, 2026: Dream Aerospace Technologies Pvt. Ltd announced the fundraise of INR 10 crore Pre-Series A funding round led by Mumbai-based seed-stage venture capital firm 247VC with Campus Angels Network (CAN). The current round also saw participation from Chandigarh Angels Network and other Angel Investors.
The capital will be deployed across three key initiatives: completing flight qualification of the company's ATOM thruster series and CUBEHOOD propulsion module, expanding the production and testing facility at IIT Kanpur, and executing the first in-orbit demonstration of the CUBEHOOD module in a mission slated for 2026, with technical support from the Indian Space Research Organisation (ISRO) under an active Memorandum of Understanding.
" This funding marks a significant milestone in Dream Aerospace's journey to build indigenous green propulsion technologies for the global space industry. Thesupport from 247VC, Campus Angels Network, Chandigarh Angels Network, validates both our technology and our vision of making India a leader in sustainable space propulsion.The capital will enable us to accelerate the flight qualification of our ATOM thruster series, expand our testing and manufacturing capabilities, and execute our first in-orbit demonstration mission in 2026. We are grateful for the continued support from IIT Kanpur, In space, and our investors as we work towards delivering reliable, high-performance propulsion solutions for the rapidly growing small satellite market."
— Hari Krishnan, Founder and CEO, Dream Aerospace
About Dream Aerospace
Dream Aerospace Technologies Pvt. Ltd. is an IIT Kanpur-incubated deeptech company building India’s first green chemical propulsion system for the global small satellite and CubeSat market. Founded in 2022 by Hari Krishnan, the company is developing India's first commercial HAN-based monopropellant, the ATOM thruster series, and the CUBEHOOD propulsion module. Dream operates an in-house propellant blending and thruster testing facility at IIT Kanpur and works under an active Memorandum of Understanding with ISRO's Liquid Propulsion Systems Centre. The company's first in-orbit demonstration is scheduled for 2026.
"Dream Aerospace is building exactly the kind of critical, indigenous deeptech that the next decade demands - a green propulsion system that eliminates India's dependence on imports and positions the country at the forefront of a global regulatory shift away from hydrazine.Hari and the team have demonstrated exceptional technical rigour, product building, and strong validation. 247VC backs legendary founders solving hard problems with structural tailwinds, and Dream Aerospace is a textbook example of that thesis. We are proud to lead this round and support the team through their first in-orbit demonstration and beyond."
— Shashank Randev, General Partner, 247VC
Why green propulsion, and why now
Chemical propulsion powers most satellite movement in space. Satellites use it to change orbit, stay in position, avoid debris, and safely deorbit at end of life. For years, hydrazine has been the standard propellant, but it is highly toxic, carcinogenic, and requires complex handling with special suits, storage, and transport.
Now this is changing. Regulators in Europe have flagged hydrazine as a high-risk chemical, and space agencies like ESA are already requiring safer alternatives. The shift to green propellants is not optional anymore. It is becoming a global standard driven by regulation.
In parallel, the Indian commercial space sector has crossed a structural inflection. With the IN-SPACe regulatory framework, growing private investment, and the government's Indian Space Policy 2023 unlocking private participation, the country now has more than 200 active spacetech companies. India's space economy is projected to reach USD 13 billion by the end of this year, with the satellite manufacturing and propulsion segments forming a critical backbone of that growth. Yet until now, Indian satellite builders have had to import green propulsion systems or rely on hydrazine. Dream Aerospace is building the indigenous alternative.
"Dream Aerospace represents the kind of deep-tech opportunity that India needs more of — a startup solving a complex engineering challenge with the potential to create globally competitive intellectual property. The company has built a strong foundation through its indigenous green propulsion technology, ATOM thrusters and CUBEHOOD propulsion module, addressing a rapidly growing need in the small satellite market. We are pleased to support Hari, Rogith and the team as they work towards establishing India as a credible supplier of advanced space technologies."
— K Chandran, Managing Director & CEO, Campus Angels Network.
About 247VC
247VC, founded by Operator VCs Yagnesh Sanghrajka and Shashank Randev, is a seed-stage technology focused venture capital firm backing legendary founders building for India's next decade. The fund invests in key themes such as Advanced Manufacturing, Frontier / Deep tech, Enterprise Tech, and Consumer Tech, with initial cheque size between INR 4 to 5 crores with an appetite for follow-on capital. 247VC, registered as Category 2 AIF has a target corpus of INR 250 crores. Yagnesh Sanghrajka and Shashank Randev together with the core team bring over 30 years of operating and 20 years of venture investing experience.
About Campus Angels Network
Campus Angels Network (CAN) is an angel investment platform focused on identifying, mentoring and funding high-potential startups emerging from leading academic institutions, incubators and research ecosystems. CAN works closely with more than 70 incubators and accelerators across India and has invested in startups across deep technology, aerospace, advanced materials, energy, mobility, robotics, healthcare and enterprise technology sectors. Beyond capital, CAN actively supports founders through mentoring, industry connections and strategic guidance.
