Anand Mahindra, Mahindra Group Chairman has invested his individual earnings in Agnikul Cosmos Pvt. Ltd., which test-fired India’s first 3D printed rocket engine last week. Srinath Ravichandran, co-founder, and chief executive officer of Agnikul Cosmos, has come on board as an angel investor in the Indian space startup.

Srinath, states, "As a hardware startup, we always are looking for others who can help us.”

“AGNIKUL is a startup that will build launch vehicles to carry micro/nanosatellites to low earth orbit on demand. They recently test-fired a fully 3D printed semi-cryo rocket engine at IIT Madras. Terrific champions of the future. I’ve personally invested in the company," Mahindra tweeted.

Agnikul, incubated at the Indian Institute of Technology, Madras, is building a small rocket that can launch 100 kg satellites into low earth orbit. The rocket, which can be ported on a mobile platform, is looking at its first launch by the end of 2022.

Unlike conventional rocket engines that have hundreds of moving parts, Agnikul has taken the newer approach to 3D print the entire Agnilet engine as one part. This would make the engine lighter and have scope for little errors, a fact proven by its successful test.

In December, Agnikul became the first space startup to sign a pact with the Indian Space Research Organisation (ISRO) to tap into the space agency's expertise as well as its facilities to build its rocket, since the country opened up the space sector for the private industry.