An Indian start-up, Team Indus has secured USD 1 million from Google Lunar XPRIZE, a global competition to develop low-cost method of robotic space exploration. It was one among three winners of the nine winners and one of the three in the ‘Landing’ sub category. As per a VCCircle report, each of the three winners of this sub category got USD 1 million while the three winners in the ‘Mobility’ and ‘Imaging’ sub categories received USD 500,000 and USD 250,000, respectively.
Five of these nine startups were from US, two were from Germany and one each from India and Japan. The Lunar Xprize has asked teams to see through safe landing of a private craft on lunar surface that travels 500 meters, and send video, images and data back to the Earth. Founded in 2010, as a venture of IIT-Delhi alumnus Rahul Narayan and four others, Team Indus positioned as an aerospace start-up with an aim to develop aerospace grade technologies on the global stage. It having 11-50 employees in its current team.
It had previously raised seed capital from a group of investors including Subrata Mitra and Shekhar Kirani of Accel Partners, Sharad Sharma, the founding member of software products thinktank Ispirt, Vivek Raghavan, chief product manager of UIDAI, among others.Category Investments Startups