Option 1 (ANUSAT) -> A student satellite from Anna University launched in 2009, but it weighed around 40 kg, making it a microsatellite, not a pico-satellite.
Option 2 (PRATHAM) -> IIT Bombay's student satellite launched in 2016, weighing approximately 10 kg, which classifies it as a nanosatellite, not a pico-satellite.
Option 3 (STUDSAT) -> India's first pico-satellite weighing approximately 850 grams, developed collaboratively by seven engineering colleges and launched in 2010 aboard PSLV-C15.
Option 4 (SWAYAM) -> Another student satellite project, but not the first pico-satellite developed by the consortium of seven colleges.
Hence, Option 3 (STUDSAT) -> STUDSAT (Student Satellite) was India's first pico-satellite mission, developed by a consortium of seven engineering colleges including Madras Institute of Technology, SRM University, and others. Weighing less than 1 kg, it was launched on July 12, 2010, and was designed to image the moon and study the space environment -> correct