By Staff Correspondent
The space tech industry in India is poised for a significant breakthrough, with the emergence of multiple unicorns expected before 2030, according to technocrat Ravinder Pal Singh, partner at Kalaari Capital, a pioneering investor in the domain. In an interaction with Business Today, Singh shared his profound insights on the future of India’s space tech ecosystem and underscored the potential for unicorns to thrive in diverse segments beyond traditional launch vehicles or rockets.
Singh, who has spearheaded Kalaari Capital’s investments in cutting-edge space tech startups like Digantara Research & Technologies, believes that the real opportunities lie in areas such as space situational awareness, data intelligence, and perceptive defence warfare. “From a unit economics perspective, there is potential to utilise advanced technologies to reduce the launch time of a launch vehicle. However, I do not foresee more than one unicorn emerging from this segment. On the other hand, companies are focusing on space situational awareness, data intelligence, and perceptive defence warfare poised to become unicorns swiftly,” he stated with conviction.
The award-winning Technologist also highlighted the significant investment potential in the space tech sector, citing global data that reveals nearly $27 billion was invested in the space sector in the past decade, with the combined value of that investment now close to $4 trillion. Despite the capital-intensive nature of the business, Singh believes that investors and large industries should seriously focus on the space tech industry, which can potentially disrupt various sectors of the economy, including agriculture and energy.
He further shed light on the untapped potential of space from the insurance industry perspective, where enhanced visibility and transparency for objects in space and on Earth could be a game-changer. He also pointed out the potential of satellites to revolutionise air-to-land transactions and communication between nations, which are currently costly endeavours.
Singh warmly welcomed the recent approval of the Indian Space Policy by the government, stating that it could serve as a catalyst to boost investments in the sector. He noted that opacity has hindered investments in the space and defence sectors, and the approved policy is expected to clarify the regulatory framework and segments the government is keen to promote.
With unwavering optimism about the future of India’s space tech industry, Singh recently attended the prestigious three-day ‘Indian DefSpace Symposium 2023’ organised by the apex industry body Indian Space Association (ISpA) in New Delhi. As India braces itself to welcome multiple space tech unicorns, Singh’s astute insights shed light on the immense potential and lucrative opportunities in this rapidly growing sector, positioning India as a global contender in the space tech arena.
