Space-tech co. Dhruva to raise $15.5 M led by IndusBridge Ventures

Hyderabad-based Dhruva Space has raised USD 15.5 million (INR 147 crore) in a pre-Series B funding round led by IndusBridge Ventures along with participation from the government-backed Antariksh Venture Capital Fund, Blue Ashva Capital (via Blue Ashva Sampada Fund), and others.Founded in 2012 by Sanjay Nekkanti, Chaitanya Dora, Krishna Teja Penamakuru, and Abhay Egoor, Dhruva operates a full-stack spacetech business that provides satellite manufacturing, launch integration, and ground station solutions. The firm plans to use the new funds to develop and launch communication, earth observation, and remote sensing satellites. Additionally, the capital will support working capital requirements and infrastructure development.Post-investment, Blue Ashva Sampada Fund, Antariksh Venture Capital Fund, and IndusBridge Ventures are set to hold stakes of 6.29%, 3.32%, and 2.73%, respectively, with the promoters retaining a 40.74% stake in the company.