NEW DELHI: India’s growing private space ecosystem just got a powerful boost. Pune-based Thrustworks Dynetics, a young propulsion technology company, has raised ₹7 crore in a fresh funding round to accelerate its mission of developing next-generation liquid rocket engines.
The round was led by Jamwant Ventures, with Piper Serica, SINE–IIT Bombay, and several notable angel investors participating.
The funds will help the startup expand its Integrated Rocket Facility, enhance R&D in propulsion systems, and build India’s most advanced rocket engine testing infrastructure.
Founded in 2023 by Manan Joshi, Kalyani Shinde, and Vinith Shenoy, Thrustworks Dynetics emerged from the trio’s experience leading a rocket engine development project at Bharat Forge Aerospace.
The company, incubated at SINE–IIT Bombay, is building the ANYA platform, a modular liquid rocket engine system designed for scalability and rapid prototyping.
A key innovation from Thrustworks is India’s first Mobile Rocket Engine Test Bed, which allows flexible hot-fire testing and significantly reduces development time and costs.
“Our aim is to enable the larger aerospace industry by offering customizable, scalable, and modular propulsion solutions that can cut product development time from years to months,” said Manan Joshi, Co-founder of Thrustworks Dynetics. “This funding helps us move faster toward that vision.” The company plans to set up India’s first Integrated Rocket Facility, which will bring design, manufacturing, and testing under one roof to improve efficiency and agility in propulsion development.
“At Jamwant Ventures, we’re backing companies that are building India’s future in space technology,” said Cdr Navneet Kaushik, Co-founder of Jamwant Ventures. “Thrustworks Dynetics combines technical depth with execution speed, which is essential for India’s new space economy.”
Abhay Agarwal, Managing Partner at Piper Serica Angel Fund, said, “TWD’s propulsion technology could redefine how India and the world access space, making it more efficient, reliable, and sustainable. We see vast applications in launch vehicles, defense, and advanced mobility systems.”
Thrustworks Dynetics is collaborating with ISRO, IN-SPACe, Bharat Forge, Godrej Aerospace, and INOXCVA to accelerate innovation and strengthen India’s indigenous propulsion ecosystem.
With India’s space sector experiencing unprecedented growth and increased private participation, Thrustworks Dynetics aims to position itself at the forefront of the country’s next wave of propulsion innovation.
