PE-VC Fund Investments
Space-tech startup Dhruva raises $4.2 M
Hyderabad-based Dhruva Space has raised USD 4.2 million (INR 38.7 crore) in an ongoing Pre-Series B funding round from investors including Indian Angel Network (IAN), GVFL, Blue Ashva Capital, and angel investor Pradeep Sinha.IAN Alpha Fund is contributing INR 26 crore, GVFL INR 10 crore, and Blue Ashva Capital INR 2.4 crore. This investment extends a Pre-Series B round initiated in November last year, which previously raised INR 51.76 crore (USD 6 million) from AVCF1 (Aditum Venture Capital Fund), Hyderabad Angel Fund, AR Enterprises, Ativira Technologies, and other angel investors.Founded in 2012 by Sanjay Nekkanti, Chaitanya Dora Surapureddy, Abhay Egoor, and Krishna Teja Penamakuru, Dhruva develops space engineering solutions, including building small satellites, ground stations, launch solutions, and associated mission support for commercial, government, and academic customers. The company is working on its commercial launch.
Between Oct 2021 and Nov 2025, Dhruva Space had attracted about USD 27 M from Hyderabad Angels, SIDBI VC, Big Capital, Blue Ashva Capital, Blume Ventures, IAN Fund, IvyCap Ventures, Silverneedle Ventures and others.For FY24, Dhruva Space had reported about INR 13 Cr in Operating Income and about INR 20 Cr in Net Loss.
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