Orbit Achieved, Scale Pending: Why India’s Space Startups Need State-Backed Capital

Vikram-1 reached orbit on 18 July on its very first attempt, having raised roughly $150 Mn across its entire life as a company. That number, not the launch itself, is a strategic headline. It means India can now manufacture orbital launch capability at a cost structure no other country has managed to match, and it points policymakers straight to where public money now earns its highest return.