Astrophel Aerospace, Lamark Biotech, and Garaaz Raise Early-Stage Funding

Entrepreneur

10 hours ago

The below Indian brands have announced their latest funding rounds.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Astrophel Aerospace Raises INR 6.84 Cr Funding
Pune-based deep-tech space startup Astrophel Aerospace has raised INR 6.84 crore (USD 800,000) in a pre-seed funding round led by a consortium of individual investors and angel venture firms.
The funding will be deployed to develop a reusable semi-cryogenic launch vehicle, and scale the company's in-house R&D for missile-grade guidance systems and precision components.
Founded in 2022 by Suyash Bafna and Immanuel Louis, Astrophel Aerospace offers dedicated launch vehicles for small satellites, powered by its proprietary Potentia C1U semi-cryogenic engine. The company aims to build cost-effective, reusable launch systems by integrating automotive manufacturing best practices with advanced 3D printing.
"We believe India's private space sector is ready to tackle high-complexity, deep-tech challenges in aerospace," said Bafna. "Reusable systems and precision components will reduce costs and unlock a new era of space access."
The company recently signed an MoU with ISRO for collaborative R&D and is co-producing cryogenic valves with a listed Indian manufacturer. It also successfully test-fired a semi-cryogenic engine with just INR 6 lakh and no external funding.
With its first suborbital launch planned and India's space economy projected to reach USD 44 billion by 2033, Astrophel is emerging as a key propulsion and launch infrastructure player.
Lamark Biotech Raises INR 6.5 Cr in Pre-Series A
Ahmedabad-based biopharma startup Lamark Biotech has raised INR 6.5 crore in a pre-series A funding round led by IAN Group, including IAN Alpha Fund, and powered by BioAngels. Domain experts from IAN's angel network—Dr Vinayender Tulla, Dr Nita Roy, and Venkataraman KNK—also participated.
The funds will accelerate development of thermostable insulin and expand Lamark's biologics platform for global access.
Founded in 2018 by Dr Vaibhav Bhatia, Lamark Biotech is pioneering temperature-resilient biologics through its proprietary ProteoStrong™ platform, which stabilises fragile protein-based drugs like insulin, monoclonal antibodies, and enzymes without altering their structure—reducing reliance on cold-chain logistics.
"This funding marks a turning point not just for Lamark, but for patients worldwide," said Bhatia. "We're scaling thermostable insulin and applying ProteoStrong™ to more critical therapies. If it's not accessible, it's not a medicine."
Lamark's flagship program, InsulinStrong, targets India's INR 4,000 crore insulin market and plans expansion into Southeast Asia and the UAE. The startup, leveraging R&D at Venture Center, NCL Innovation Park, Pune, aims to file new patents, start clinical trials, and partner with pharma companies and global health agencies over the next two years.
Garaaz Raises INR 4.55 Cr Led by GVFL
Garaaz, a Jaipur-based B2B automotive spare parts aggregator and SaaS platform, has raised INR 4.55 crore in a seed funding round led by GVFL.
The funds will be used to scale operations across India, enhance tech infrastructure and R&D, and build a robust logistics and support network to streamline the aftermarket auto parts supply chain.
Founded in 2019 by Shaleen Agarwal (CEO), Sahil Rally (CTO), and Varun Agarwal (COO), Garaaz connects workshops with genuine auto parts distributors, enabling seamless parts identification, procurement, and delivery.
The platform offers access to over 8 million parts across 25 leading car brands, supporting inventory management, pricing, orders, and workshop operations for OEMs, resellers, and manufacturers.
"At Garaaz, we're not just delivering spare parts — we're powering the heart of India's workshop economy," said Shaleen Agarwal. "Our mission is simple: make spare parts accessible, intelligent, and instant — with technology so seamless, it feels invisible."
Garaaz has experienced 3X growth in the last two years, with sales doubling in FY24-25.
Mihir Joshi, MD of GVFL, said, "Garaaz is solving fragmentation in the auto parts ecosystem by bringing structure, trust, and efficiency to a traditionally unorganized market."