Hyderabad: Spacetech startup Dhruva Space has secured funding of ₹60 crore from India’s sovereign space-tech fund, the Antariksh Venture Capital Fund (AVCF), becoming the first recipient of investment from the fund that is anchored by IN-SPACe and managed by SIDBI Venture Capital Ltd.With this, the Hyderabad-based Dhruva Space, which is a full-stack space engineering solutions provider operating across satellite, launch and ground segments, said the latest funding takes its ongoing pre-Series B round to ₹275 crore, including ₹150 crore in equity and ₹125 crore in debt financing.The company said it intends to deploy the new capital to expand satellite manufacturing, develop space infrastructure, advance critical technologies and serve customers in domestic and international markets.The investment was announced at the 10th IN-SPACe Industry Connect event in Ahmedabad, marking the opening deployment by the fund, which was set up with a corpus of ₹1,600 crore.Dhruva Space co-founder Chaitanya Dora Surapureddy said the funding was an endorsement of the company’s long-term effort to build sovereign space capabilities from India. He said the capital would help accelerate infrastructure development, expand manufacturing and execute a growing order book as demand for space-based solutions rises globally.The Hyderabad-based company said it currently has orders of more than ₹500 crore across satellite platforms, space infrastructure, mission services and strategic national programmes.SIDBI Venture Capital managing director and CEO Arup Kumar said the first investment reflected confidence in companies capable of combining innovation, manufacturing, mission execution and commercial deployment.AVCF was created to provide institutional capital to private space-technology companies at different stages of growth and help them scale operations, commercialise technologies and support India’s expanding space ambitions.
