TeamIndus Inks Pact With ISRO; Aims to Raise $45 Million By October 2017
TeamIndus has inked a commercial launch contract with the Indian Space Research Organisation (ISRO) for its mission to land a spacecraft on the moon as it attempts to win the USD 25 million Google Lunar XPRIZE.
TeamIndus is the only Indian team competing for the Google Lunar XPRIZE that requires privately funded teams to land their spacecraft on the surface of the moon, travel 500 metres and broadcast high definition video, images and data back to earth.
The team, which has received support from industry veterans including Ratan Tata (Tata Group), Nandan Nilekani (Infosys), Sachin Bansal and Binny Bansal (Flipkart) and Venu Srinivasan (TVS Group) among others, also aims to raise about USD 45 million by October next year to fund the project.
"The total expense of the project is abo...