TeamIndus signs Launch Contract with ISRO

TeamIndus signs Launch Contract with ISRO. Bangalore-based space tech firm TeamIndus on December 1, 2016 signed a verified commercial launch contract with Indian Space Research Organisation (ISRO) for its mission to land a spacecraft on the moon.  The move is an attempt to win Google Lunar XPRIZE, a competition to challenge and inspire engineers and entrepreneurs from around

the world to develop low-cost methods of robotic space exploration.TeamIndus signs Launch Contract with ISRO

iii. TeamIndus is the only Indian team competing for the $30 million “Google Lunar XPRIZE.” This will be the first time ISRO has given a dedicated PSLV to any private entity. TeamIndus will launch its Moon-bound spacecraft aboard ISRO’s Polar Satellite Launch Vehicle (PSLV) in late 2017.

iv. The total cost of the venture is expected to be around USD 60 million. The company has so far raised USD 15 million and is in talks with investors to raise more funding.

v. TeamIndus’ rover has been designed and developed in Bengaluru by a 100-person engineering team including 20 retired ISRO scientists.

vi. The goal of the USD 30 million Google Lunar XPRIZE is to start a new era of space exploration by lowering the cost.

vii. In order to win the prize, privately funded teams must land their spacecraft on the moon, travel 500 meters and broadcast high definition video, images and data back to Earth.