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Funding · AI & Deep Tech

AVCF invests ₹60 Cr in Dhruva Space for expansion

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Dhruva Space logo
Date
Company
Dhruva Space
What it does
Full-stack space engineering solutions provider
Kind
Funding
Amount
₹60 Cr ($6.3 Mn)
Stage
pre-Series B
Based in
Hyderabad
Founded
2012
Sector
AI & Deep Tech

What they do

Dhruva Space builds small satellites and provides ground station services

What happened

AVCF invested ₹60 Cr in a pre-Series B round anchored by IN-SPACe

Why it matters

The company has an order book exceeding ₹500 Cr for satellite platforms and national programmes

The details

  • AVCF made its maiden investment in Dhruva Space.
  • The investment amount was ₹60 Cr ($6.3 Mn).
  • This brings Dhruva's total raised capital to ₹275 Cr to date.
  • The pre-Series B round consists of ₹150 Cr equity and ₹125 Cr debt.
  • AVCF is anchored by ₹1,000 Cr from the regulator IN-SPACe.
  • The fund is managed by SIDBI Venture Capital Limited.
  • AVCF aims to back approximately 35 startups over five years.
  • The announcement was made at the IN-SPACe Industry Connect event.

The bigger picture

  • AVCF targets sectors like launch systems and satellite manufacturing.
  • The fund originated from the Union Budget 2024.
  • India's spacetech market is projected to reach $77 Bn by 2030.
  • Dhruva previously received a ₹105 Cr grant from RDIF.

About the business

  • Dhruva Space operates as a full-stack space engineering solutions provider.
  • The company is based in Hyderabad, India.
  • Its products include small satellites and ground stations.
  • Services cover launch solutions and mission support activities.
  • Customers span commercial, government, and academic sectors.
  • The firm has an order book exceeding ₹500 Cr.
  • Orders come from satellite platforms and strategic national programmes.
  • Funds will expand satellite manufacturing capabilities significantly.
  • The company plans to execute domestic and international customer programmes.

What happens next

  • Expand satellite manufacturing capabilities using the new funds.
  • Develop critical space infrastructure technologies.
  • Execute customer programmes across domestic and international markets.

The deal

Type
funding

Investors

  • AVCF (lead) — Category II AIF with ₹1,600 Cr corpus anchored by IN-SPACe.
  • IN-SPACe (anchor investor) — Indian National Space Promotion and Authorisation Centre regulator.
  • RDIF (previous funder) — Research, Development & Innovation Fund providing grants.

Founders

  • Chaitanya Dora Surapureddy, Co-founder
  • Sanjay Nekkanti, Co-founder
  • Abhay Egoor, Co-founder
  • Krishna Teja Penamakuru, 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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