FundingAI & Deep Tech
Dhruva Space raises ₹147 crore pre-Series B
By Abha Lohia · Editor ·
Dhruva Space: valuation and funding and every story →
Pre-Series BHyderabadFounded 2012
- Dhruva Space is a space technology startup that builds satellites and related systems for communication and earth observation
- Its board approved new convertible preference shares worth about ₹147 crore, with IndusBridge Ventures putting in ₹60 crore as lead
- The money will fund new communication and remote sensing satellites, plus working capital; the government-backed space fund adds ₹46.9 crore
What happened
- Dhruva Space is raising about ₹147 crore in a pre-Series B round.
- IndusBridge Ventures leads with ₹60 crore.
- The Antariksh Venture Capital Fund adds ₹46.9 crore, raising its stake.
- Blue Ashva Sampada Fund commits ₹18.22 crore and PVS Raju ₹10 crore.
- Shares issued are compulsorily convertible preference shares.
Why it matters
- Funds go to building and launching satellites.
- Part covers working capital.
- The state-backed fund keeps backing the company after its July investment.
The business
- Dhruva Space is a spacetech startup.
- It works on communication, earth observation and remote sensing satellites.
Who put in money
- IndusBridge Ventures lead
- Antariksh Venture Capital Fund investor — Government-backed space fund managed by SIDBI Venture Capital
In numbers
₹1,000+ CrFund corpus (AVCF) · 2026
What happens next
- Develop and launch new satellites
Earlier rounds
- Earlier ₹60 crore from AVCF in July 2026
The numbers around it
Dhruva Space has 5 funding rounds in StopDown's archive, ₹275 Cr raised in all.
| When | Round | Amount | Led by |
|---|---|---|---|
| 13 July 2026 | pre-Series B | ₹60 Cr ($6.3 Mn) | AVCF |
| 4 February 2026 | Pre-Series B | $4.2 Mn (INR 38.7 Cr) | IAN Alpha Fund |
| 29 November 2025 | pre-Series B | Rs 51.76 crore ($6 million) | AVCF1 (Aditum Venture Capital Fund) |
| 22 April 2024 | Series A | $15M (approx ₹123 crore) plus ₹24 crore venture debt | Indian Angel Network Alpha Fund |
AI & Deep Tech in November 2026: 9 rounds with a disclosed amount, $171 million in all; the biggest was Agrani Labs ($100M). Every sector this year →
Terms in this story
- Startup: A startup is a young company built to find a new way of doing something and to grow fast, usually by serving many customers at little extra cost. India also has a legal definition for scheme benefits: under ten years old, turnover under ₹200 crore, and working on innovation or a scalable model.
- Funding stage: Startups raise money in steps called funding stages: pre-seed, seed, Series A, B, C and later, ending in a listing or a sale. Each step is larger and asks for more proof. In India, Series A rounds run from a few million dollars to about $15 million, as of November 2026.
- Series B/C: Series B, C, D and later rounds are growth rounds: large cheques for a startup with a proven model that wants to expand, enter new markets or move toward profit and a listing. In India they are usually priced in CCPS and, when foreign investors take part, must follow FEMA pricing rules.
- Startup debt: Startups raise debt to get money without giving up more ownership. Common forms in India are venture debt, working-capital lines, revenue-based financing and non-convertible debentures (NCDs). Debt can be a sign of strength or of stress, depending on why it is raised and how it will be repaid.
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