Spacetech startup Dhruva Space to raise Rs 147 crore in pre-Series B round
Dhruva Space is set to raise Rs 147 crore (about $15.5 million) in a pre-Series B round led by IndusBridge Ventures to build and launch satellites.
- Raised
- ₹147 Cr
- Stage
- Pre-Series B
- Status
- Reported
Spacetech startup Dhruva Space is set to raise Rs 147 crore (approximately $15.5 million) in a pre-Series B round led by IndusBridge Ventures. Participants include the government-backed Antariksh Venture Capital Fund (AVCF), Blue Ashva Sampada Fund and others.
The board has approved the issuance of 1,573 pre-Series B compulsorily convertible preference shares at Rs 9,34,429.47 each, according to the company’s filing with the Registrar of Companies. IndusBridge invested Rs 60 crore, AVCF Rs 46.9 crore, Blue Ashva Sampada Fund Rs 18.22 crore and PVS Raju Rs 10 crore. Four other investors supplied the remainder.
The filing shows that the investments from Blue Ashva Sampada Fund and Akshat Greentech have not yet been received. Entrackr estimates a post-money valuation of around Rs 2,200 crore (around $230 million).
After the allotment, Blue Ashva Sampada Fund will hold 6.29%, AVCF 3.32% and IndusBridge Ventures 2.73%. The promoters will retain 40.74%.
Dhruva Space, founded by Sanjay Nekkanti and Chaitanya Dora, operates a full-stack spacetech business, offering satellite manufacturing, launch integration and ground station solutions to commercial, government and defence customers. It also provides satellite deployment services and access to space-based data and imagery through its platforms.
The company will use the money to develop and launch communication, earth observation and remote sensing satellites. Funds will also cover working capital, infrastructure and general corporate expenses.
Operating revenue rose nearly eightfold to Rs 79 crore in FY26 from Rs 10 crore in FY25, while losses widened 21% to Rs 46.6 crore.
This follows AVCF’s earlier investment of Rs 60 crore in the company in July 2026. AVCF has a corpus of over Rs 1,000 crore, was set up under the guidance of IN-SPACe and is managed by SIDBI Venture Capital Limited.
Other Indian spacetech startups have also raised funding recently. Skyroot became India’s first spacetech unicorn after raising $60 million, and Pixxel raised $100 million in a Series C round co-led by Temasek and Seraphim Space.
