IAN Alpha Fund has invested INR 78 Crores in Dhruva Space's Series A2 round, raising the total funding to INR 123 Crores to enhance spacecraft manufacturing and launch capabilities.

Information on the Target

Dhruva Space, a notable full-stack space technology company based in Hyderabad, India, has recently secured INR 78 Crores in its Series A2 funding round, bringing its total funding to INR 123 Crores (approximately $14 million). This financing is crucial for Dhruva Space's efforts to establish advanced spacecraft manufacturing and testing facilities, while also enabling them to launch customer missions involving larger satellite systems like the P-30 and P-90. The company's strategy integrates the development of innovative space solutions tailored to meet both civilian and governmental needs.

The company has achieved significant milestones in its short operational history, having successfully completed four space missions over the past two years. Their notable initiatives include the Thybolt satellites mission in November 2022 and the recent LEAP-TD mission in January 2024 that validated their P-30 nanosatellite platform. Such accomplishments have positioned Dhruva Space as a significant contender within the global space industry, supported by numerous collaborative ventures with international partners.

Industry Overview in India

The Indian space tech industry has been experiencing remarkable growth, driven by increased demand for satellite-based services and technological advancements. With its rapidly evolving landscape, India is poised to become a