Dhruva Space Secures Funding to Propel Spacetech Advancements
Dhruva Space, a pioneering spacetech startup, is poised to secure Rs 147 crore (around $15.5 million) in a pre-Series B funding round. This round is being led by IndusBridge Ventures, with contributions from the government-supported Antariksh Venture Capital Fund, Blue Ashva Sampada Fund, and several others. This new funding comes after AVCF’s previous investment of Rs 60 crore in Dhruva Space in July 2026. Antariksh Venture Capital Fund has a corpus exceeding Rs 1,000 crore and operates under the guidance of IN-SPACe, being managed by SIDBI Venture Capital Limited.
Funding Details
According to the latest details filed with the Registrar of Companies (RoC), Dhruva Space’s board has approved the issuance of 1,573 compulsorily convertible preference shares (CCPS) at an issue price of Rs 9,34,429.47 per share to raise the specified amount. IndusBridge Ventures Fund led the funding round with an investment of Rs 60 crore. Following them, Antariksh Venture Capital Fund contributed Rs 46.9 crore to boost its stake in the company. Blue Ashva Sampada Fund has committed Rs 18.22 crore, while PVS Raju invested Rs 10 crore. The remaining investment came from four additional investors.
Investment Status
However, the filing indicates that investments from Blue Ashva Sampada Fund and Akshat Greentech are still pending receipt.
Valuation and Usage of Funds
Startup Superb’s estimates suggest that following this funding, Dhruva Space will achieve a post-money valuation of approximately Rs 2,200 crore (about $230 million). The company plans to utilise these funds for the development and launch of communication, earth observation, and remote sensing satellites. Additionally, the funds will support working capital requirements, infrastructure enhancements, and various corporate expenses.
About Dhruva Space
Founded by Sanjay Nekkanti and Chaitanya Dora, Dhruva Space runs a comprehensive spacetech operation. It offers satellite manufacturing, launch integration, and ground station solutions for commercial, governmental, and defence clients. Furthermore, the company provides satellite deployment services and grants access to space-based data and imagery through its platforms.
Stake Distribution Post-Funding
After the new funding round, Blue Ashva Sampada Fund will have a 6.29% stake in Dhruva Space. Meanwhile, Antariksh Venture Capital Fund and IndusBridge Ventures will own 3.32% and 2.73%, respectively. The promoters will maintain a collective stake of 40.74%.
Financial Performance
In financial terms, Dhruva Space recorded a significant increase in operating revenue, jumping nearly eightfold to Rs 79 crore in FY26, compared to Rs 10 crore in FY25. However, losses also expanded by 21% year-on-year, reaching Rs 46.6 crore.
Growth of India’s Spacetech Sector
The spacetech industry in India has been experiencing a rise in funding activity. There is growing interest from investors in startups involved in satellite manufacturing, launch vehicles, and space-related data services. This trend signifies an increase in institutional investment and government initiatives aimed at promoting domestic space technology enterprises.
Recently, Skyroot made headlines as India’s first spacetech unicorn after raising $60 million in a funding round. Bengaluru’s Pixxel successfully raised $100 million in a Series C round co-led by Temasek and Seraphim Space, whereas Bellatrix Aerospace secured $20 million in a pre-Series B round. Last year, Digantara and Agnikul raised $50 million and $17 million, respectively.