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Funding · Government, Defense & Space

Dhruva Space raises $15m in Series A round

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Dhruva Space logo
Date
Company
Dhruva Space
What it does
Spacecraft and satellite solutions
Kind
Funding
Amount
$15M (approx ₹123 crore) plus ₹24 crore venture debt
Stage
Series A
Based in
Hyderabad
Founded
2012
Sector
Government, Defense & Space

What they do

Dhruva Space builds satellites, ground stations and launch services for civilian and defence clients worldwide

What happened

It raised $15 million in Series A equity plus ₹24 crore in venture debt from multiple investors

Why it matters

The company has launched eight payloads in the last 24 months, including the Thybolt and LEAP-TD missions

The details

  • Dhruva Space raised $15 million in a Series A round.
  • The round also included ₹24 crore in venture debt from SIDBI and the Technology Development Board.
  • Investors include Indian Angel Network Alpha Fund, Blue Ashva Capital, Silverneedle Ventures, BIG Global Investment JSC, IvyCap Ventures, Mumbai Angels, and Blume Founders Fund.
  • The company will use the funds to build spacecraft manufacturing facilities, make strategic acquisitions, and enhance its product offerings.
  • Dhruva Space has launched eight payloads in the last 24 months.
  • Its missions include the Thybolt satellites in November 2022 and the LEAP-TD mission on 1 January 2024.

The bigger picture

  • The Indian space-tech sector is seeing strong investor interest, with peers like Pixxel raising $36M and Digantara raising $10M last year.
  • Dhruva Space serves both civilian and defence clients, positioning it in the growing defence and space ecosystem.
  • The venture debt component shows a mix of equity and debt financing common in capital-intensive space startups.

About the business

  • Dhruva Space is headquartered in Hyderabad.
  • It operates in three segments: space, launch, and ground.
  • It offers satellites with Earth stations and launch services as integrated or standalone solutions.
  • Its clients include civilian and defence organisations worldwide.

What happens next

  • Build spacecraft manufacturing facilities.
  • Make strategic business acquisitions.
  • Enhance product offerings.

The deal

Type
Series A

Investors

Founders

  • Sanjay Nekkanti, Co-founder
  • Chaitanya Dora, Co-founder

About Dhruva Space

Product
Full-stack space engineering across spacecraft engineering, launch integration, ground station infrastructure, and space applications.
Customers
Satellite and space-sector customers, including commercial and institutional buyers.
How it makes money
Earns revenue from space hardware, systems integration, and related services.
What sets it apart
Offers end-to-end space capabilities across the full value chain.
Operations
Designs, integrates, and supplies satellite systems and related infrastructure from Hyderabad.

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