- Antariksh Venture Capital Fund (AVCF) has made its maiden investment in Dhruva Space, providing ₹60 crore in funding.
- This funding is part of Dhruva Space's ongoing pre-Series B round, which has raised a total of ₹275 crore to date.
- Chaitanya Dora Surapureddy, Co-Founder of Dhruva Space, stated that this capital will enable the company to accelerate infrastructure development and scale manufacturing.
- The funding announcement was made at the 10th IN-SPACe Industry Connect event held in Ahmedabad.
- The Antariksh Venture Capital Fund was established with a corpus of ₹1,600 crore to provide institutional capital to space-tech startups.
- Dhruva Space, founded in 2012, develops end-to-end space engineering solutions including small satellites and launch solutions.
- The startup currently maintains an order book exceeding ₹500 crore driven by demand across various space sectors.
Dhruva Space, a Hyderabad-based spacetech startup, has secured ₹60 crore from the Antariksh Venture Capital Fund (AVCF), marking the fund's inaugural investment.127
"Our first investment reflects strong belief that the next generation of space leaders will be built by companies that can integrate innovation, manufacturing, mission execution, and commercial deployment under one roof," said Arup Kumar, Managing Director & CEO of SIDBI Venture Capital Ltd.
The AVCF, with a total corpus of ₹1,600 crore, aims to provide institutional capital to space-tech startups at various stages of development.
“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,” stated Chaitanya Dora Surapureddy, Co-Founder of Dhruva Space.5
The funding will support Dhruva Space's expansion of satellite manufacturing capabilities and development of space infrastructure, as the company currently maintains an order book exceeding ₹500 crore.9
The investment is part of Dhruva Space's ongoing pre-Series B funding round, which has raised ₹275 crore to date, including ₹150 crore in equity and ₹125 crore in debt financing.34
The announcement was made at the 10th IN-SPACe Industry Connect event in Ahmedabad, highlighting the government's commitment to fostering innovation in the space sector.6
“The investment is part of Dhruva Space's ongoing pre-Series B round, which now totals ₹275 crore in equity and debt. Co-founder Chaitanya Dora Surapureddy said the capital will accelerate infrastructure development and manufacturing as the company executes an order book exceeding ₹500 crore.”
