Dhruva Space, an Indian space technology startup, has raised Rs 22 crore in funding led by Indian Angel Network (IAN) Fund and Blue Ashva Capital.

The space technology startup, which claims it is already executing projects worth millions of dollars, said it would utilise the raised funds to expand its operations globally, including entering markets like the United States and the Middle East.

Speaking on the development, Padmaja Ruparel, Co-founder at Indian Angel Network, said,

“Over the next decade, it is estimated that nearly 30,000 satellites will be launched into orbit. To enable such rapid and large-scale deployment of space assets, there needs to be a fundamental change in how the satellites are designed, manufactured, and launched. This is where Dhruva Space steps in.”

Dhruva Space | Diverse Payloads, Distinct Space Missions

Dhruva Space is a National Award-winning Space Technology startup based out of Hyderabad, India, and Graz, Austria. The startup is focused on building full-stack space engineering solutions and has been actively involved in building application-agnostic satellite platforms.

Additionally, the spacetech startup has developed a modular application-agnostic small satellite platform that will enable commercial, defence and academic sectors to quickly, cheaply, and reliably get access to space.

Speaking on the funding round, Sanjay Nekkanti, Co-founder of Dhruva Space, said,

“We are already working on launching our first satellite for a client. We are glad that the latest funding came at the right time. This fundraise will enable us to launch new solutions and expand our footprint to more unique markets both nationally and internationally.”

The recent development comes within a week after Dhruva Space has signed a memorandum of understanding (MoU) with engineering and manufacturing giant Larsen and Toubro to jointly provide power solutions to the satellite sector globally.

As per the spacetech startup, it has done extensive work in building space-grade solar panels, which will form the basis of the partnership.

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