Dhruva Space's pre-Series B round reaches ₹275 crore after a ₹60 crore investment from Antariksh Venture Capital Fund, India's dedicated space-tech VC anchored by IN-SPACe.
Alpha Score of 68 reflects moderate overall profile with strong momentum, strong value, weak quality, moderate sentiment.
Dhruva Space, a spacetech startup providing end-to-end engineering solutions, has raised ₹60 crore from the Antariksh Venture Capital Fund (AVCF), India's dedicated space-tech venture capital fund anchored by IN-SPACe and managed by SIDBI Venture Capital Ltd. It is AVCF's first investment since its launch.
The injection brings Dhruva Space's ongoing pre-Series B round to ₹275 crore, split between ₹150 crore in equity and ₹125 crore in debt. The startup did not disclose a target for the round.
Arup Kumar, Managing Director & CEO of SIDBI Venture Capital Ltd, said the fund picked Dhruva because it combines innovation, manufacturing, mission execution and commercial deployment under one roof. “Our first investment reflects strong belief that the next generation of space leaders will be built by companies that can integrate” those capabilities, he said in a statement Monday.
Dhruva Space co-founder Chaitanya Dora Surapureddy said the capital will help the company accelerate infrastructure development, scale manufacturing and execute on its growing order book. “As demand for space-based solutions continues to grow globally, this capital will enable us to accelerate infrastructure development, scale manufacturing, and execute on our growing order book,” he said.
The order book currently stands at over ₹500 crore, the company said. The funding will also support expansion of satellite manufacturing, development of space infrastructure, advancement of critical technologies and execution of customer programmes across domestic and international markets.
AVCF was established with a corpus of ₹1,600 crore to provide institutional capital to space-tech startups at various growth stages, helping them scale operations and commercialise new technologies. The investment was announced at the 10th IN-SPACe Industry Connect held in Ahmedabad.
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