Dhruva Space secures ₹60-crore investment from space-tech fund AVCF
Space engineering solutions provider Dhruva Space has secured a ₹60-crore investment from the Antariksh Venture Capital Fund (AVCF). It is the first company to receive
Space engineering solutions provider Dhruva Space has secured a ₹60-crore investment from the Antariksh Venture Capital Fund (AVCF). It is the first company to receive funding from the dedicated space-tech fund anchored by IN-SPACe and managed by SIDBI Venture Capital, said Dhruva Space on the announcement made at the IN-SPACe Industry Connect event in Ahmedabad on Monday. “Our first investment reflects strong belief that the next generation of space leaders will be built by companies that can integrate innovation, manufacturing, mission execution and commercial deployment under one roof.
Dhruva Space has established itself as a full-stack space company with the vision,” SIDBI Venture Capital MD and CEO Arup Kumar said in a release. Established with a corpus of ₹1,600 crore, the primary objective of AVCF is to provide institutional capital to space-tech start-ups at various stages of development, supporting the scaling of operations and the commercialisation of new technologies. With the latest investment, Dhruva Space’s ongoing pre-Series B round stands at ₹275 crore raised to date, comprising ₹150 crore in equity and ₹125 crore in debt financing.
Co-founder Chaitanya Dora Surapureddy said, “The continued support from SIDBI Venture reflects a steadfast belief in Dhruva Space’s capabilities, growth trajectory, and contribution to India’s evolving space ecosystem. This capital will enable us to accelerate infrastructure development, scale manufacturing and execute on our growing
order book.” Dhruva Space said its order book exceeds ₹500 crore. The investment will support its next phase of growth, including expansion of satellite manufacturing capabilities, development of space infrastructure, advancement of critical technologies, and execution of customer programmes across domestic and international markets.
The BriefWire