Runtime | Indian Tech News | Wednesday, August 13th, 2025

Welcome to Runtime’s daily Indian tech news roundup. Today, Pixxel leads a $135 million satellite consortium with Dhruva Space, SatSure, and Piersight, Manastu Space and Olee Space raise $3 million each for green propulsion and defence tech, Ultraviolette Automotive secures $21 million for global EV expansion, The Residency Delta announces its Indian finalists, Composio launches Rube to connect AI with 500+ apps, and Fractal Analytics files for a ₹4,900 crore IPO.

0:00 Intro
0:40 India’s New Satellite Consortium Led by Pixxel
1:55 Manastu Space Raises $3M
2:50 Olee Space Raises $3M
3:38 Ultraviolette Automotive Raises $21M
4:31 The Residency Delta Ends
5:10 Composio Launches Rube
5:57 Fractal Analytics’ IPO

India’s New Satellite Consortium Led by Pixxel

A new Indian satellite consortium led by Pixxel will build the country’s first fully indigenous commercial Earth Observation satellite constellation. The consortium includes Pixxel, Dhruva Space, SatSure, and Piersight. Awarded by IN-SPACe, the $135 million (₹1,200 crore) project will deploy 12 satellites equipped with panchromatic, multispectral, hyperspectral, and microwave SAR sensors over five years. Pixxel specializes in hyperspectral imaging, Dhruva Space builds satellite buses and avionics, SatSure monetizes Earth observation data, and Piersight develops maritime SAR coverage. Together, these companies will handle satellite manufacturing, launch integration, and downstream analytics to sell EO data at scale to commercial clients.

Manastu Space Raises $3M

Manastu Space, a space safety and logistics company, has raised $3 million in a round led by Capital-A. Manastu Space is tackling space debris pollution with non-toxic alternatives to conventional propulsion systems. The funding will help commercially deploy their green propulsion and debris-avoidance solutions. Clients include DRDO and French rocket manufacturer Latitude. Manastu Space aims to advance from TRL 8 to TRL 9 and expand into in-orbit servicing, satellite refueling, and satellite de-orbiting capabilities.

Olee Space Raises $3M

Olee Space, a Pune-based defence tech startup, has raised $3 million in its seed round. Olee Space develops laser-based communication systems and directed energy weapon (DEW) platforms. Its low-powered infrared lasers enable high-speed, secure data transmission across land, air, sea, and space. The DEW platform targets hostile drones, UAVs, and satellites. Founded in 2023, Olee Space has already conducted field-level deployments. The funding will be used to scale production, enhance quantum-secure communication protocols, and further develop its DEW systems.

Ultraviolette Automotive Raises $21M

Ultraviolette Automotive has raised $21 million from TDK Ventures and existing investors including Zoho, Lingotto, and founders Sriharsha Majety, Ankit Nagori, and Aprameya Radhakrishna. Ultraviolette Automotive designs and manufactures high-performance electric motorcycles for India and global markets. The funds will boost manufacturing capacity, enhance battery technology, expand its network from 20 to over 100 Indian cities, and drive international expansion.

The Residency Delta Ends

The Residency Delta program is concluding, with three Indian founders in the Top 12 finalists: Harish Ashok (Zenith), Abhinav Gupta (Breethr), and Mayank Mishra (Madmods). Zenith is building Cursor for hardware builders, Breethr is developing next-generation air conditioning technology, and Madmods is creating a gamedev platform for kids. Internal voting will select three winners for an all-expenses-paid, three-month program in San Francisco.

Composio Launches Rube

Composio, with most of its team based in India, has launched Rube, a platform enabling AI to use over 500 apps without code. Compatible with Cursor, Windsurf, Cline, Claude Code, and Gemini CLI, Rube can connect tools and perform automated workflows using natural language. For example, Rube can integrate with Google Calendar, research meeting attendees, and deliver summaries. Composio positions Rube as a way to connect any tool with any other tool, making AI more functional and versatile.

Fractal Analytics’ IPO

Fractal Analytics has filed for a ₹4,900 crore ($560 million) IPO. The analytics and AI solutions company serves global clients across healthcare, retail, financial services, and tech. Known for its Fractal AI Research division, Fractal released the Fathom-R1-14B model, a 14-billion-parameter reasoning model fine-tuned for state-of-the-art mathematical reasoning within a 16,000-token context window. The IPO will help Fractal Analytics strengthen its position in the global AI and analytics market.

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