Naveen Jain, a home-grown XLRI alumnus, and successful entrepreneur has magnificently managed to win the approval from the US government, for his Florida based start-up, Moon Express, to land on the moon.

His is the first private company, ever, to get an approval to mine commercially on the moon.

“It is symbolic of what a small group of people are capable of doing. If I can come to this country and land on the moon, imagine what anyone else can achieve”, Jain was quoted at an interview with the ET.

Jain had founded a clutch of companies across fields from online search to software services to selling background information about clients. The company will “harvest” the moon for platinum-grade material, rare earth materials and Helium-3.

“Water on the moon also creates great opportunity to create rocket fuel and fuel for humans, oxygen. We are also taking paid payloads such as telescopes and other scientific instruments on the moon,” said Jain.

In total, the company says it has raised more than $45 million in private investment from individuals and venture capital sources including Founders Fund, Collaborative Fund and Autodesk.