Highlights
Digantara’s $50 Million Series B Investment for Space Surveillance
Digantara, a prominent space surveillance and intelligence platform, has recently secured $50 million in a Series B funding round. This round was led by Reliance and saw contributions from notable investors including 360 One, SBI Ventures, Ronnie Screwvala, as well as existing backers Peak XV Partners and Kalaari Capital.
Funding Details and Valuation
While Digantara, based in Bengaluru, did not provide extensive information beyond the funding amount and the involved investors, Startup Superb investigated regulatory filings to unveil the company’s valuation, funding breakdown, and comprehensive shareholding structure. According to a filing with the Registrar of Companies (RoC), the board of Digantara has issued 8,451 Series B preference shares at an issue price of Rs 5,14,793 each, totalling Rs 435 crore (approximately $50 million).
The leading investment came from Reliance Business Ventures, which contributed Rs 261 crore (about $30 million). 360 One followed with an investment of Rs 87 crore ($10 million), while SBI Ventures added Rs 26 crore ($3 million). Existing investors Peak XV Partners and Kalaari Capital contributed Rs 30.47 crore ($3.5 million) and Rs 26 crore ($3 million), respectively. Additionally, Ronnie Screwvala, the founder of upGrad, participated with an investment of Rs 4.37 crore ($500K).
Company Valuation Growth
Startup Superb’s analysis indicated that Digantara’s post-money valuation has almost tripled, now reaching Rs 1,740 crore (around $200 million). This marks a significant rise from Rs 590 crore following its fundraising from the Aditya Birla Group and SIDBI in February 2024.
About Digantara
Founded in December 2018 by Anirudh Sharma, Digantara focuses on space situational awareness by developing both space- and ground-based infrastructure. This infrastructure aims at facilitating safe and secure space operations by providing data-driven orbital insights to governments, defence agencies, and commercial entities worldwide. To date, Digantara has raised approximately $65 million, including a $10 million Series A funding round in June 2023, primarily led by Peak XV and Kalaari Capital.
After this latest funding round, Kalaari Capital stands as the largest shareholder with a 21.76% stake. New investor Reliance now holds 15%, while Peak XV Partners owns 11.61%. 360 One and SBI Ventures hold stakes of 5% and 1.5%, respectively. The co-founders, Anirudh Sharma, Rahul Rawat, and Tanveer Ahmed, together maintain a 27.26% ownership. Moreover, the company has established an ESOP pool of 6.6%, which is valued at around Rs 115 crore (approximately $13 million).
Current Financials and Future Outlook
In the fiscal year ending March 2025, Digantara remained in the pre-revenue stage, reporting an operating revenue of Rs 50 lakh, while incurred losses were reported at Rs 20.9 crore during the same timeframe. The space tech industry has seen considerable activity, with numerous startups accumulating funds over the past year. Notably, Ethereal Exploration raised $20.5 million, CoreEL Technologies secured $30 million, and Agnikul raised $17 million. Other notable startups include Inspecity, Manastu Space, Sisir Radar, OrbitAid, Pixxel, Ulook, and Akashalabdhi.
A significant boost to India’s evolving space tech sector came last August when the Union government introduced an investment support of Rs 211 crore (around $25 million) under the Fund of Funds for Startups scheme.
