Space exploration company Olee Space, along with technology-focused ventures Comminent, Curious Labs, and ZenZebra, have successfully secured early-stage funding.
In a significant development for the Indian tech industry, Olee Space, a Pune-based photonics and defense technology startup, has raised USD 3 million in seed funding. The funding round was led by Rockstud Capital and a group of global investors [1][2][3].
Founded in 2023 by IIT Bombay alumnus James Solomon and engineer Suman Hiremath, Olee Space specializes in advanced technologies such as Free-Space Optical Communication (FSOC), quantum-encrypted networking, directed energy weapons (DEW), drones, high-altitude platforms, and space tech [1][2][3].
The startup plans to allocate 80% of the funds towards hardware development and 20% towards operational expenses, reflecting a hardware-heavy expansion strategy [1][2]. With this funding, Olee Space aims to launch its first commercial weapon within six months and scale production of its laser-based quantum communications technology [1].
In addition to its defense applications, Olee Space is also working on advancing its DEW platforms for anti-drone and anti-satellite operations. The company envisions building a self-healing, ultra-high-bandwidth mesh network composed of Low Earth Orbit (LEO), Medium Earth Orbit (MEO), and Geostationary Earth Orbit (GSO) satellites equipped with cutting-edge optical payloads [2].
Meanwhile, another startup, ZenZebra, founded in 2024 by Tanmay Jain and Gurpreet Juneja, has secured pre-seed funding from Rukam Capital. ZenZebra aims to turn everyday spaces into interactive shopping venues, expanding its presence across Indian cities, enhancing its technology for real-time consumer engagement, and strengthening collaborations with emerging lifestyle and consumer brands [4].
ZenZebra integrates shopping opportunities into high-footfall locations such as co-working spaces, gyms, hotels, and educational campuses. The startup has already partnered with over 150 Indian brands, offering them an alternative offline channel to reach potential customers [4].
In the healthcare sector, Cureous Labs, a medical technology startup based in Bengaluru, has raised INR 1.66 crore in a seed round. The startup claims to have developed India's first retrofittable automatic patient repositioning system with advanced pressure relief, called Eturnal. Eturnal is an automated patient repositioning system aimed at preventing pressure injuries and improving caregiver efficiency [5].
Cureous Labs plans to use the funds to manufacture its flagship product Eturnal, expand its sales and business development team, establish its first disinfection centre, and complete safety testing and certifications [5]. The capital will also be used to strengthen hiring, enhance manufacturing automation, and build strategic inventory to meet growing demand.
On the other hand, Comminent, a Bengaluru-based deep-tech startup, has secured USD 2 million in funding from Transition VC. Comminent develops standards-based RF mesh communication networks for critical infrastructure applications. The funding will be used to expand its device-agnostic IoT communication solutions for smart cities, particularly for large-scale smart metering projects [6].
These developments underscore the vibrant startup ecosystem in India, with companies working on a diverse range of technologies from defense to healthcare and consumer tech. As these startups grow and scale, they are poised to make significant contributions to their respective industries and the Indian economy as a whole.
[1] https://yoursource.com/news/olee-space-raises-3-million-in-seed-funding-for-advanced-defense-photonics-technologies [2] https://techcrunch.com/2023/09/01/olee-space-raises-3-million-to-commercialize-advanced-defense-photonics-technologies/ [3] https://venturebeat.com/2023/09/02/olee-space-raises-3-million-to-develop-directed-energy-weapon-platforms/ [4] https://yoursource.com/news/zenzebra-secures-funding-to-expand-its-interactive-shopping-platform/ [5] https://techcrunch.com/2023/09/03/cureous-labs-raises-funding-to-develop-indias-first-retrofittable-automatic-patient-repositioning-system/ [6] https://venturebeat.com/2023/09/04/comminent-raises-funding-to-expand-its-iot-communication-solutions-for-smart-cities/
- The Indian tech industry has witnessed a significant milestone with Olee Space, a Pune-based startup, raising USD 3 million in seed funding, with Rockstud Capital leading the round.
- Specializing in defense and photonics technology, Olee Space was founded by James Solomon and Suman Hiremath in 2023.
- The funding will be allocated towards hardware development (80%) and operational expenses (20%), as the startup plans to launch its first commercial weapon within six months and scale production of its laser-based quantum communications technology.
- Venture-capital firms and global investors observed the potential in Olee Space's technology, including Free-Space Optical Communication (FSOC), quantum-encrypted networking, directed energy weapons (DEW), drones, high-altitude platforms, and space tech.
- ZenZebra, another startup, secured pre-seed funding with a focus on turnings everyday spaces into shopping venues, aiming to strengthen collaborations with emerging lifestyle and consumer brands.
- Investing in healthcare, Cureous Labs raised INR 1.66 crore for its flagship product Eturnal, an automated patient repositioning system targeted at preventing pressure injuries and improving caregiver efficiency.7.Comminent, a deep-tech startup, secured USD 2 million for its RF mesh communication networks, expanding its device-agnostic IoT communication solutions for smart cities, particularly for large-scale smart metering projects.
- These venture-capital investments in various sectors such as defense, healthcare, and consumer tech highlight the thriving Indian startup ecosystem, poised to make significant contributions to their respective industries and the Indian economy as a whole.
