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Exclusive: Dhruva Space to raise $15.5 Mn in pre-Series B; revenue surges 8X

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Exclusive: Dhruva Space to raise $15.5 Mn in pre-Series B; revenue surges 8X

Spacetech startup Dhruva Space is all set to raise Rs 147 crore (approximately $15.5 million) in a pre-Series B funding round led by IndusBridge Ventures, with participation from government-backed Antariksh Venture Capital Fund, Blue Ashva Sampada Fund and others.

The latest funding follows AVCF’s earlier investment of Rs 60 crore in Dhruva Space in July 2026. With a corpus of over Rs 1,000 crore, AVCF was established under the guidance of IN-SPACe and is managed by SIDBI Venture Capital Limited.

Dhruva Space’s board has approved the issuance of 1,573 pre-Series B compulsorily convertible preference shares (CCPS) at an issue price of Rs 9,34,429.47 per share to raise the aforementioned amount, according to its filing with the Registrar of Companies (RoC).

IndusBridge Ventures Fund led the round with an investment of Rs 60 crore, followed by Antariksh Venture Capital Fund (AVCF), which invested Rs 46.9 crore to increase its stake in the company. Blue Ashva Sampada Fund committed Rs 18.22 crore, while PVS Raju invested Rs 10 crore. The remaining amount came from four other investors.

However, according to the filing, the investments from Blue Ashva Sampada Fund and Akshat Greentech, are yet to be received.

According to Entrackr’s estimates, Dhruva Space will command a post-money valuation of around Rs 2,200 crore (around $230 million).

The company will use the funds to develop and launch communication, earth observation and remote sensing satellites, besides meeting working capital needs, infrastructure development and general corporate expenses, the filing further stated.

Founded by Sanjay Nekkanti, Chaitanya Dora, Krishna Teja Penamakuru and Abhay Egoor, Dhruva Space operates a full-stack spacetech business, offering satellite manufacturing, launch integration and ground station solutions to commercial, government and defence customers.


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