TeamIndus searches for partners overseas as Isro deal falls through
ET Bureau|
Jan 10, 2018, 11.22 AM IST
BENGALURU: In a major setback to space startup TeamIndus, which is the only Indian team competing for the Google Lunar XPRIZE, its official launch contract has fallen through with the Indian Space Research Organisation (ISRO), according to reports.
But, investors say that TeamIndus has not given up and will try to make the launch possible but it will not be possible before the 31 March deadline set by the Google Lunar XPRIZE.
While going certainly seems bleak, the company is looking at overseas partners for the launch as ISRO is the only option for space launches in India. TeamIndus has also struggled to raise the entire Rs 450 crore required for the launch.
"They are trying to team up with somebody else outside who can help them. They have said- 'Give us sometime, we are trying to reorient, redirect our efforts.. if we can still make it'," said Kiran Mazumdar-Shaw, managing director of Biocon who has backed TeamIndus.
The calling off of the contract between TeamIndus and ISRO was first reported by The Ken.
Bengaluru based TeamIndus had signed an official launch contract with ISRO in December, 2016.
Four other teams from around the world — SpaceIL (Israel), Moon Express (USA), Synergy Moon (International) and HAKUTO (Japan) — had also qualified for the competition. TeamIndus has also signed a commercial agreement to carry a robotic rover developed by HAKUTO, along with them. According to various reports Israel's SpaceIL will not be able to launch by 2018 as well.
The deadline for the competition was pushed from December 2017 to 31 March, 2018. The company said: "We won't be able to provide any comments at the moment," to an official query sent by ET.
To win the $30-million Google Lunar XPRIZE, a privately funded team must successfully place a robot on the moon's surface that explores at least 500 metres and transmits high-definition video and images back to Earth.
One of the other backers said that there was likely a conflict between ISRO and TeamIndus on the launch, more than a matter of funding.
"TeamIndus is looking for another partner. They will definitely go ahead with their launch, whether or not it is with ISRO or under the Google mission. They have a unique product,'' said this backer on the condition of anonymity.
TeamIndus had reportedly raised more than half of the approximately Rs 450 crore funding required for the mission and was working on crowdfunding to raise more money before the deadline.
Some of the backers include Infosys cofounder Nandan Nilekani, Tata Sons emeritus chairman Ratan Tata and Flipkart co-founders Sachin and Binny Bansal.
But, investors say that TeamIndus has not given up and will try to make the launch possible but it will not be possible before the 31 March deadline set by the Google Lunar XPRIZE.
While going certainly seems bleak, the company is looking at overseas partners for the launch as ISRO is the only option for space launches in India. TeamIndus has also struggled to raise the entire Rs 450 crore required for the launch.
"They are trying to team up with somebody else outside who can help them. They have said- 'Give us sometime, we are trying to reorient, redirect our efforts.. if we can still make it'," said Kiran Mazumdar-Shaw, managing director of Biocon who has backed TeamIndus.
The calling off of the contract between TeamIndus and ISRO was first reported by The Ken.
Bengaluru based TeamIndus had signed an official launch contract with ISRO in December, 2016.
Four other teams from around the world — SpaceIL (Israel), Moon Express (USA), Synergy Moon (International) and HAKUTO (Japan) — had also qualified for the competition. TeamIndus has also signed a commercial agreement to carry a robotic rover developed by HAKUTO, along with them. According to various reports Israel's SpaceIL will not be able to launch by 2018 as well.
The deadline for the competition was pushed from December 2017 to 31 March, 2018. The company said: "We won't be able to provide any comments at the moment," to an official query sent by ET.
To win the $30-million Google Lunar XPRIZE, a privately funded team must successfully place a robot on the moon's surface that explores at least 500 metres and transmits high-definition video and images back to Earth.
One of the other backers said that there was likely a conflict between ISRO and TeamIndus on the launch, more than a matter of funding.
"TeamIndus is looking for another partner. They will definitely go ahead with their launch, whether or not it is with ISRO or under the Google mission. They have a unique product,'' said this backer on the condition of anonymity.
TeamIndus had reportedly raised more than half of the approximately Rs 450 crore funding required for the mission and was working on crowdfunding to raise more money before the deadline.
Some of the backers include Infosys cofounder Nandan Nilekani, Tata Sons emeritus chairman Ratan Tata and Flipkart co-founders Sachin and Binny Bansal.
