Rohan M Ganapathy’s story is inspiring. He co-founded Bellatrix Aerospace in 2015 and now leads it as CEO & CTO. As of March 2025, the Bengaluru‑based space-tech company is valued at approximately ₹299 crore (~USD 36 million), with total funding of $12.6 million across Series A and B rounds. Bellatrix designs and manufactures advanced electric and green satellite propulsion systems—such as Hall-effect thrusters, microwave plasma engines, and orbital-transfer vehicles—empowering sustainable in‑space mobility. The company serves global markets, secured multi‑million‑dollar contracts, and recently expanded into the U.S. Read the full story.
Basic Details
| Origin Country | India |
| Legal Name | Bellatrix Aerospace Pvt. Ltd. |
| Brand | Bellatrix Aerospace |
| Founders | Rohan M Ganapathy, Yashas Karanam |
| CEO | Rohan M Ganapathy |
| Industry | Aerospace & Defence |
| Website | bellatrix.aero |
| Year of Founding | 2015 |
| Valuation | INR 299 Cr (~USD 36 M, as of Mar 6, 2025) |
| Employees | 80 (as of Feb 28, 2025) |
| Headquarters | Bengaluru, Karnataka, India |
| Status | Active |
FOUNDER OVERVIEW – ROHAN M GANAPATHY
➤ Net Worth (2025)
Rohan M Ganapathy’s estimated net worth in 2025 is approximately USD 2–3 million. As co-founder and CEO-CTO of Bellatrix Aerospace, his net worth primarily comes from his equity stake in the company and modest executive compensation. Known for his passion-driven leadership, Rohan reinvests most of his personal returns into the company’s R&D efforts and future tech development.
➤ Ownership in Company
Rohan M Ganapathy holds a significant minority stake in Bellatrix Aerospace, estimated at around 15–20% as of the latest funding round. He draws a market-aligned salary typical for deep-tech startup founders in India. His financial philosophy is rooted in capital efficiency and reinvesting funds to push technological boundaries rather than focusing on personal wealth accumulation.
➤ Ventures Founded
Before Bellatrix Aerospace, Rohan focused on academic research and prototype development in advanced electric propulsion at Indian Institute of Science (IISc). Bellatrix remains his first and flagship venture in the commercial sector.
➤ Investments
As of 2025, Rohan is not known to be an angel investor in other startups. However, he actively mentors aspiring aerospace engineers and early-stage space-tech innovators through industry forums and university incubators.
➤ Recognition & Awards
- Young Scientist Award, 2012, by the Indian Space Research Organisation (ISRO) for innovative research in microwave plasma propulsion.
- Forbes 30 Under 30 Asia – Industry, Manufacturing & Energy, 2018.
- National Startup Award – Space Sector, 2021, presented by Government of India.
PERSONAL STORY: ROHAN M GANAPATHY
Rohan M Ganapathy was born in 1990 in Ooty, Tamil Nadu, India. Growing up in the picturesque Nilgiri hills, Rohan’s childhood was filled with a natural curiosity about the stars and the science that powered rockets and satellites. His father, a government employee, and mother, a homemaker, encouraged him to chase knowledge beyond textbooks. Even as a schoolboy, he would spend hours dismantling electronic gadgets and building small experiments to understand how things worked.
Before founding Bellatrix Aerospace, Rohan pursued his passion for space propulsion at the Indian Institute of Science (IISc), Bangalore — one of India’s premier research institutions. It was here that he immersed himself in cutting-edge research on microwave plasma propulsion, which would later lay the groundwork for Bellatrix’s core technology. During his postgraduate years, he built early prototypes in the lab, often working late nights with limited resources but unlimited determination.
Despite academic success, Rohan faced many practical roadblocks. Funding for experimental propulsion research in India was scarce at the time, and his ideas were initially met with scepticism. Undeterred, he took the bold step to transition his research into a commercial venture. This meant convincing potential investors that a young student team could develop world-class in-space mobility solutions — a tall order in a country just opening up to private space companies.
On the personal front, Rohan navigated financial constraints and the high-pressure environment of deep-tech entrepreneurship. He chose to forego more secure career options abroad, opting instead to remain in India and contribute to its emerging private space industry. His resilience and belief in India’s homegrown talent shaped his journey from an ambitious researcher to a pioneering founder in the new space race.
Today, Rohan’s story inspires many young Indians to dream beyond earth’s boundaries — proving that with grit, scientific curiosity, and a mission-driven mindset, even a small lab prototype can become a globally relevant propulsion company. His commitment continues to fuel Bellatrix’s vision of making sustainable in-space transportation accessible and affordable.
FOUNDING STORY: LENSKART
Inspiration Behind the Idea
The spark for Bellatrix Aerospace ignited when Rohan M Ganapathy was pursuing his postgraduate research at the Indian Institute of Science (IISc) in Bengaluru. Fascinated by electric propulsion and the idea of efficient in-space travel, he realised that India, despite its strong government space programme, lacked indigenous high-performance propulsion solutions for the private and commercial satellite sector. Driven by the vision to build world-class, cost-effective propulsion systems in India, he decided to translate his lab research into a scalable technology startup. Alongside his college friend Yashas Karanam, Rohan co-founded Bellatrix Aerospace in 2015 in Bengaluru — naming it after a bright star, symbolic of ambition and navigation.
Founding Team
Rohan’s co-founder, Yashas Karanam, brought complementary skills in strategy and operations. Together, they built a founding team of bright young engineers and researchers, mostly drawn from India’s top science and technology institutions. Early on, they shared a common conviction: India could become self-reliant in space propulsion and provide sustainable solutions for a booming global satellite market. Trust, long work hours, and a shared love for solving tough scientific problems became the glue that held the young team together.
Starting Capital
Bellatrix Aerospace began as a bootstrapped venture supported by prize money, academic grants, and personal savings of the founders. Initial funding was minimal — just enough to build early prototypes and test their novel microwave plasma thrusters. Rohan and Yashas sacrificed stable job offers, higher salaries, and family comfort to pursue this vision. They operated out of a modest lab space within IISc’s incubation centre, using second-hand equipment and collaborating with supportive faculty. It was this frugal innovation mindset that defined Bellatrix’s earliest days.
Challenges
In the initial years, convincing investors to back an Indian propulsion startup was an uphill battle. Deep-tech hardware ventures faced high risk perceptions, long R&D cycles, and regulatory complexities in the space sector. Raising capital while advancing complex experiments tested the team’s resilience. There were moments when salaries were delayed, and test failures forced them back to the drawing board. Despite these setbacks, Rohan’s unwavering focus on building in-house IP and strict cost discipline kept the company afloat.
Breakthrough
Bellatrix’s big break came when they demonstrated India’s first successful microwave plasma propulsion prototype for small satellites. This milestone caught the attention of ISRO and global satellite makers, earning them credibility as a serious player in the niche field of in-space mobility. Subsequent seed funding and partnerships with private satellite firms accelerated their R&D pipeline.
Building on this trust, Bellatrix introduced its green propulsion system using eco-friendly propellants, which attracted international customers looking for sustainable alternatives. By 2021, the company announced its flagship orbital transfer vehicle, Pushpak, designed to deploy multiple satellites in different orbits using a single launch — a game changer for cost and efficiency.
Today, Bellatrix Aerospace is one of India’s most promising private space-tech startups, delivering advanced propulsion and orbital services globally. What began as a student’s dream in a lab now stands at the forefront of the new age of sustainable space exploration — driven by Rohan M Ganapathy’s courage to reimagine what India could contribute to the stars.
COMPANY PROFILE: BELLATRIX AEROSPACE
Bellatrix Aerospace is a Bengaluru-based private space technology company specialising in innovative, high-performance propulsion systems and orbital transfer vehicles (OTVs) for satellites. Co-founded in 2015 by Rohan M Ganapathy and Yashas Karanam, Bellatrix is pioneering sustainable in-space mobility solutions that reduce mission costs and carbon footprint for commercial satellite operators worldwide.
Area Served
Bellatrix serves global satellite manufacturers, commercial space operators, and national space agencies, with a growing client base in India, Europe, and North America. In 2024, the company also expanded operations to the United States through a dedicated subsidiary.
Vision & Mission
Vision: To revolutionise in-space mobility with clean, efficient, and reliable propulsion systems, making sustainable space operations accessible to all.
Mission: To design and manufacture cutting-edge propulsion and orbital transfer solutions that empower satellite missions to maximise value, lifespan, and orbital flexibility.
Services / Products Offered
- Electric Propulsion Systems: Hall-effect thrusters and microwave plasma thrusters for satellite station-keeping and orbit raising.
- Green Chemical Propulsion: Non-toxic, environmentally friendly thrusters for various satellite sizes.
- Pushpak Orbital Transfer Vehicle (OTV): A multi-satellite deployment platform enabling cost-effective delivery to multiple orbits in a single launch.
- Custom Propulsion Solutions: Design and development support for mission-specific propulsion needs.
Business Model
Bellatrix Aerospace operates as a deep-tech B2B company in the global space industry. It designs, manufactures, and sells advanced electric and green propulsion systems and orbital transfer vehicles to satellite manufacturers and space operators worldwide. Revenue comes from direct hardware sales, custom development contracts, and mission support services. The company reinvests earnings and venture capital funding to drive R&D and expand global operations, ensuring sustainable growth and technological leadership in in-space mobility solutions.
Revenue Model (Detailed)
Bellatrix Aerospace operates a multi-channel revenue model focused on the global satellite and in-space mobility market. The company generates revenue through the following streams:
1. Direct Product Sales:
Sales of proprietary electric and green chemical propulsion systems, including Hall-effect thrusters and microwave plasma thrusters, to satellite manufacturers. These products are supplied under B2B contracts as standalone units or integrated into satellite platforms.
2. Orbital Transfer Vehicle (OTV) Services:
Income from the company’s flagship Pushpak OTV, which provides dedicated rideshare missions and deploys multiple satellites into different orbits in a single launch. Clients pay based on payload mass and orbital requirements.
3. Custom Development and Mission Consulting:
Revenue from customised propulsion system development, design modifications, and technical consulting for clients with unique satellite mission needs. This also includes collaborative R&D fees and, in selective cases, technology licensing.
4. Service and Maintenance Contracts:
Additional recurring revenue through post-delivery technical support, in-orbit performance monitoring, and maintenance services for installed propulsion systems.
5. Strategic Partnerships:
Collaborative revenue generation through strategic alliances and joint ventures with larger aerospace firms and national space agencies for co-developed missions and shared technology platforms.
Revenue Breakdown (2025):
- Approximately 60% of annual revenue comes from propulsion hardware sales.
- Around 30% is derived from Pushpak OTV deployment services.
- The remaining 10% includes custom projects and consulting engagements.
- With expansion into North America and Europe, revenue diversification and recurring contract wins continue to strengthen the company’s financial stability.
Market Landscape & Competitors
Bellatrix Aerospace operates in the emerging global market for advanced electric and green propulsion, competing with established players like Aerojet Rocketdyne, ThrustMe, and European space propulsion startups. Its key differentiator is affordable, scalable solutions tailored for small and medium satellites.
USP (Unique Selling Proposition)
- India’s first private company to develop microwave plasma thrusters.
- Proprietary green propulsion systems with non-toxic propellants.
- In-house R&D with cost-effective manufacturing.
- Strong ties with India’s space ecosystem and growing international footprint.
Growth Highlights
- Successfully tested India’s first microwave plasma thruster.
- Developed and showcased Pushpak OTV.
- Expanded customer base to Europe and North America.
- Opened U.S. subsidiary in 2024 to cater to global contracts.
Funding & Investment History
Seed and Series A & B rounds raised from reputable VC funds and strategic investors. Early grants and government support enabled the transition from lab research to commercial production.
Awards & Recognition
Young Scientist Award, 2012 — Awarded to Rohan M Ganapathy by the Indian Space Research Organisation (ISRO) for pioneering work in microwave plasma propulsion technology.
Forbes 30 Under 30 Asia, 2018 — Rohan M Ganapathy recognised in the Industry, Manufacturing & Energy category for innovation in space propulsion.
National Startup Award (Space Sector), 2021 — Conferred by the Government of India, recognising Bellatrix Aerospace as a leading innovator in the Indian private space industry.
India Innovation Growth Programme Award, 2019 — For commercialising cutting-edge propulsion technology, supported by the Department of Science & Technology and Lockheed Martin.
Top Space Tech Startup, 2023 — Named among India’s top emerging space-tech startups by Tracxn and various industry media.
Team Size & Culture
Bellatrix has grown to a team of ~80 engineers, scientists, and industry professionals as of 2025. The company fosters a culture of deep-tech innovation, scientific rigor, and youthful energy — encouraging experimentation and learning from failures.
Future Plans
Bellatrix plans to scale production capacity, commercialise its Pushpak OTV for dedicated rideshare missions, and expand its propulsion portfolio to serve mega-constellation operators. Long-term goals include becoming a leading provider for lunar and deep-space mobility solutions.
CONCLUSION
“Our vision is to make sustainable, affordable in-space mobility a reality for everyone — because the future of humankind is among the stars.”
— Rohan M Ganapathy, keynote at Bengaluru Space Expo, 2024
Rohan M Ganapathy’s story with Bellatrix Aerospace shows what happens when scientific passion meets entrepreneurial courage. From building experimental thrusters in a lab to powering satellites worldwide, Bellatrix embodies India’s rise as a competitive space-tech player. Rohan’s commitment to clean, efficient propulsion is shaping a new standard for sustainable in-space travel. His journey proves that bold ideas, relentless testing, and trust in homegrown talent can put a young startup on the global stage. As Bellatrix continues to push boundaries, it inspires future generations to dream big and innovate fearlessly — keeping India at the forefront of the modern space race.
