Key Points
- Tamil Nadu’s TIDCO invests ₹50 crore total in Agnikul Cosmos and Raptee Energy
- Agnikul plans rocket manufacturing facility at Kulasekarapattinam with 300-acre site
- Raptee targets 1,500 electric motorcycle sales across three cities by end of 2025
Tamil Nadu Industrial Development Corporation (TIDCO) has invested ₹25 crore each in Chennai-based startups Agnikul Cosmos and Raptee Energy, marking the state’s first major funding under its new startup investment policy. The TIDCO board approved both deals on Monday for minority equity stakes in the space technology and electric vehicle ventures.
The investment signals a renewed push by Tamil Nadu ahead of state assembly election to back homegrown technology companies. Agnikul Cosmos builds small satellite launch vehicles, while Raptee Energy manufactures high-voltage electric motorcycles, a segment that uses battery systems operating above 48 volts to deliver greater range and performance than conventional low-voltage electric two-wheelers.
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Industries Minister T.R.B. Rajaa said the state wants to support startups that originated in Tamil Nadu. He drew parallels with TIDCO’s early investments that helped build major industrial enterprises.
“TIDCO was started in 1965. In 1972, TIDCO made its first investment in Southern Petrochemical Industries Corporation. It later backed several successful ventures, including Titan Company,” Rajaa said.
Agnikul Cosmos plans rocket manufacturing hub
Agnikul Cosmos, founded in 2017, develops 3D-printed rocket engines and small launch vehicles designed to carry satellites weighing up to 300 kilograms into low Earth orbit. The company successfully conducted India’s first privately developed semi-cryogenic engine test in 2024.
Srinath Ravichandran, co-founder and CEO of Agnikul Cosmos, said the TIDCO funding will support infrastructure development at the company’s Kulasekarapattinam site in Tamil Nadu’s Thoothukudi district.
“We will deploy these funds to build infrastructure at Kulasekarapattinam, where we have a 300-acre land. Construction is expected to begin later this year, and the first phase is likely to be completed within a year,” Ravichandran said. “The facility will enable the entire rocket to be manufactured at this location, with the launchpad situated about an hour’s drive away.”
The launchpad reference points to India’s second spaceport at Kulasekarapattinam, which the Indian Space Research Organisation is developing to launch small satellite missions.
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Ravichandran described the state investment as validation for deep-tech companies, a term referring to startups that develop products based on substantial scientific or engineering advances rather than business model innovation.
“Having the government invest in a deep-tech startup is the strongest sign to show that the government supports and recognises original technology built in the country,” he added.
Raptee Energy targets 1,500 sales by year-end
Raptee Energy, founded in 2019, builds electric motorcycles using high-voltage architecture typically found in electric cars. This approach allows faster charging and longer range compared to most electric two-wheelers in India, which use lower voltage systems.
The startup began commercial sales in February 2025 and operates a manufacturing facility at Manapakkam in Chennai.
Dinesh Arjun, CEO and co-founder of Raptee Energy, said the company has sold 15 motorcycles since launch and expects to scale gradually through the year.
“This month, we are looking at selling around 30 bikes as we slowly scale up. By the end of this calendar year, we hope to sell around 1,500 bikes across Chennai, Bangalore, and Hyderabad,” Arjun said.
TIDCO investment policy covers emerging sectors
Both investments were approved under the TIDCO Startup Investment Policy 2025, which authorises the corporation to invest up to ₹25 crore in eligible startups. The policy covers sectors including electric vehicles, renewable energy, aerospace, agro and food processing, technical textiles and speciality chemicals.
Investment proposals under the policy are evaluated by a dedicated committee comprising TIDCO’s managing director, finance director, an independent director and two external subject matter experts.
TIDCO has partnered in more than 130 ventures over six decades, helping establish several industrial enterprises in Tamil Nadu. The corporation’s early investments included stakes in companies that grew into major industrial groups.
Your Questions, Answered
How much has TIDCO invested in Agnikul Cosmos and Raptee Energy?
TIDCO has invested ₹25 crore in each startup, totalling ₹50 crore. Both investments are for minority equity stakes approved under the TIDCO Startup Investment Policy 2025.
What does Agnikul Cosmos plan to do with the TIDCO funding?
Agnikul Cosmos will use the funds to build rocket manufacturing infrastructure at its 300-acre site in Kulasekarapattinam. Construction is expected to begin later in 2025, with the first phase completed within a year.
How many electric motorcycles has Raptee Energy sold?
Raptee Energy has sold 15 motorcycles since beginning commercial sales in February 2025. The company targets 30 sales this month and 1,500 total sales across Chennai, Bengaluru and Hyderabad by end of 2025.
Which sectors are eligible for TIDCO startup investment?
The TIDCO Startup Investment Policy 2025 covers electric vehicles, renewable energy, aerospace, agro and food processing, technical textiles and speciality chemicals. TIDCO can invest up to ₹25 crore per eligible startup.
