Sun Jan 19 11:50:52 UTC 2025: ## Jharkhand-Born Engineer’s Space Startup Secures $24 Million in Funding
**Singapore/Jamshedpur** – Rohit Jha, a 36-year-old former banker from Jamshedpur, India, has successfully secured $24 million in funding for his space-based internet startup, Transcelestial. Jha, who describes himself as a “huge nerd,” left a stable career at the Royal Bank of Canada in Singapore to pursue his passion for deep space communication technology.
After earning an electrical and electronic engineering degree from Nanyang Technological University in Singapore, Jha worked in high-frequency trading. His experience in the banking sector, however, sparked a realization about the limitations of current internet infrastructure. He observed that internet connectivity is often prioritized in profitable urban areas, leaving underserved rural communities behind. This, coupled with a feeling of being “a cog in the machine,” led him to leave banking in 2015.
Following a year of travel, Jha founded Transcelestial. The company is developing a laser-based communication network that aims to provide fiber-like internet speeds by connecting existing infrastructure like cell towers and street poles. Their ambitious vision extends beyond terrestrial networks; Transcelestial plans to launch a constellation of low Earth orbit satellites to create a globally connected laser network spanning continents.
The $24 million in funding will undoubtedly accelerate Transcelestial’s efforts to bridge the digital divide and bring high-speed internet access to underserved areas worldwide. Jha’s journey from a banking career to spearheading a space-age communications company serves as an inspiring example of entrepreneurial passion and dedication.
First Piper 