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SEOUL, April 21 (Yonhap) -- Innospace Co., a South Korean space startup, said Tuesday it has partnered with Grahaa Space of India to cooperate on multi-launch services to expand their competitiveness in the global small satellite market.
A memorandum of understanding for the partnership was signed on the sidelines of the Korea-India Space Day event held in India's southern city of Bengaluru on Monday, which was jointly hosted by the Korea AeroSpace Administration and IN-SPACe, India's space industry promotion and regulatory agency.
Under the partnership, the two companies will explore a multi-launch service model that allows customers to secure multiple launch opportunities while improving schedule flexibility and cost efficiency.
The arrangement follows up on the companies' initial collaboration during Innospace's first commercial launch of its Hanbit-Nano rocket in December, in which the Bangalore-based Indian space tech startup participated as a satellite customer.
Despite the unsuccessful outcome of the mission in December, Grahaa Space recognized Innospace's technical capabilities throughout the launch process, leading to the expanded cooperation.
"Through repeated launch opportunities, we will continue to demonstrate the reliability of our launch vehicle and grow as a trusted partner for global satellite customers by providing launch services that align closely with customer needs," said Innospace Chief Executive Officer (CEO) Kim Soo-jong.
Ramesh Kumar V, CEO of Grahaa Space, said, "We are confident that this partnership embodies a shared emphasis on reliability, transparency and continuous improvement as we advance our nano satellite roadmap."
This photo provided by Innospace Co. shows Moon Jin-ho (R), head of the company's sales and marketing, and Aparajith Bangalore Subra Manimaran, director of project at Grahaa Space, at the companies MOU signing ceremony held in Bengaluru of India on April 20, 2026. (PHOTO NOT FOR SALE)
odissy@yna.co.kr
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