Spacetech startup Aule Space raises $2 million in round led by pi Ventures

Spacetech startup Aule Space, which is building in-orbit “jetpacks” or power banks for satellites, has raised $2 million in a funding round led by pi Ventures. The round also saw participation from angel investors, including Eash Sundaram, former board member of US-based satellite operator Intelsat, and Arvind Lakshmikumar, CEO of defence imaging firm Tonbo Imaging.

The fresh capital will be used to expand the engineering team, build ground infrastructure for docking tests, and advance the development of Aule’s first demonstration satellites, which are planned to launch next year.