SpaceFields and Equilibrium Raise Early-Stage Funding The below brands have announced their latest funding rounds.
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SpaceFields Secures USD 5 Mn Pre-Series A Funding
Bengaluru-based deeptech startup SpaceFields has raised USD 5 million (about INR 42 crore) in its pre-Series A funding round led by Globaz Technologies.
The round also saw participation from Rockstud Capital, Venture Catalysts, Rainmatter backed by Nithin Kamath, Burla Angel Network, Faad Capital, SIDBI, O2 Angels, and the MeitY Startup Hub, among others.
This funding follows the company's earlier seed round in 2024, where it secured USD 1.3 million from Jamwant Ventures, HVB 88 Angels, and other investors.
The fresh capital will be directed towards scaling manufacturing capabilities, obtaining regulatory certifications, and strengthening its workforce across engineering, operations, and business roles.
Founded in 2021 by Apurwa Masook, Rounak Agrawal, and Sudarshan Samal, SpaceFields develops rocket propulsion systems for defence and aerospace sectors. Its portfolio includes solid-fuel powered propulsion technologies for unmanned aerial vehicles, rockets, and spacecraft.
The startup claims that it has already won four contracts under the Ministry of Defence's iDEX initiative and holds patents for four indigenous propulsion systems.
As part of the deal, SpaceFields and lead investor Globaz Technologies will collaborate to advance sovereign dual-use technologies within India's aerospace and defence ecosystem.
Climate-Tech Startup Equilibrium Secures USD 3 Mn Funding
Climate-tech startup Equilibrium has secured USD 3 million in its first institutional funding round, with investments from Kalaari Capital, Avaana Capital and Peak XV Partners. The capital will be used to scale its technology platform, accelerate eight ongoing carbon removal projects and strengthen its operations.
Founded in 2024 by Siddhanth Jayaram, the Bengaluru-based company provides full-stack carbon removal solutions for businesses pursuing net-zero commitments. Its initiatives span agroforestry, regenerative agriculture, mangrove restoration and biochar projects, engaging more than 60,000 farmers and coastal communities.
Equilibrium partners with corporates, technology firms and project financiers to design and manage carbon removal projects. It tracks project outcomes through technology and facilitates the sale of carbon credits or removal units to clients working toward sustainability goals.
The startup has built a project pipeline capable of delivering more than 20 million tonnes of long-term COâ‚‚ removal. Operating across nine Indian states including Maharashtra, Tamil Nadu and Karnataka, it plans to extend its presence to South Asian countries such as Nepal and Sri Lanka in the coming quarters.
