Space Technology startup Dhruva Space Raises INR 22 Cr Funding The funds will be utilized for executing orders at hand, expanding to other geographies and in-orbit demonstrations
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Mumbai Angels Network, a startup investment platform for early-stage venture investments, along with Indian Angel Network (IAN), Blue Ashva, and other marquee investors, have invested in Dhruva Space, a space technology startup that builds full-stack space engineering solutions and application-agnostic small satellite platforms. The total value of the funding round amounts to INR 22 crore.
Dhruva Space will be utilizing the funds to expand on its current portfolio of products on the Space, Launch & Ground segment.
"At Dhruva Space, our primary vision is to offer satellites coupled with launch & mission operations services as an integrated, all-encompassing solution to power space-based applications. Although Space-tech is still at a nascent stage in the private sector, it has been growing steadily, and as Dhruva Space, we have made remarkable progress with our innovative solutions in a short period. We are thrilled to have multiple eminent investors backing us in our journey. With this funding, we will be augmenting our full-stack offerings further and go a step closer to achieving our vision," shared Sanjay Nekkanti, chief executive officer, Dhruva Space.
The P-Dot platform of Dhruva Space has already gained a significant amount of traction considering the ability to provide IoT/M2M solutions in a very small form factor. The DSOD (Dhruva Space Orbital Deployers) can support dedicated launches for CubeSats ranging from 1U to 16U size satellites placing them in a unique position to offer satellites coupled with launch as a solution.
"Space technology is perhaps one of the most exciting, innovative, and fastest-growing sectors in the world. Dhruva Space is building robust solutions that will further drive the growth of India's Space-tech industry. The platform is extremely capital-efficient, and we believe that this funding will enable them to scale and develop full-stack solutions both as integrated services as well as individual technology solutions that can be utilized for space-related applications on Earth and beyond. We believe that this is merely the beginning of Dhruva Space's journey, and they will reach greater heights soon," added Nandini Mansinghka, co-founder and chief executive officer, Mumbai Angels Network.
Based out of Hyderabad, India, and Graz, Austria, Dhruva Space builds satellite platforms, launch solutions and ground stations.
Dr. Aman Puri, Consul General of India to UAE had inaugurated the ISOCS (Integrated Space Operations & Command Suite) of Dhruva Space during Expo 2020 in Dubai. The software platform developed by Dhruva Space offers its customers to receive, command & operate satellites anywhere in the world using a distributed network of ground stations, the platform said.
