Dhruva Space, our portfolio company raises INR 22 Cr to meet the future of space-tech innovation in India

 

Mumbai Angels Network, Indian Angel Network, Blue Ashva, and other marquee investors invest INR 22 Cr in Dhruva Space, a Space Technology startup

Having recently received orders from the DRDO, Dhruva Space is currently serving markets in India, Europe & South America. The funds will be utilized for executing orders at hand, expanding to other geographies & in-orbit demonstrations.

29, October, 2021: Mumbai Angels Network, a premium 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 National Award-winning 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 Cr.

Dhruva Space will be utilizing the funds to expand on its current portfolio of products on the Space, Launch & Ground segment. 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. 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.

“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& CEO - Mumbai Angels Network.

Sanjay Nekkanti, CEO of Dhruva Space, said, “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.”

Based out of Hyderabad, India, and Graz, Austria, Dhruva Space builds satellite platforms, launch solutions and ground stations. The company’s founding team comprises seasoned business and technology professionals who possess extensive experience, having worked with prominent organizations such as Exseed Space, amg AG, Cisco, and KPMG. A finalist in the Qualcomm Design in India challenge, Dhruva Space has recently received orders from the DRDO (Defence Research and Development Organization) and is currently collaborating with several National &International companies. Furthermore, Dhruva Space is also participating in the ongoing Dubai Expo 2020 & the International Astronautical Congress 2021, Dubai.

About Mumbai Angels: Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 170+ strong portfolio across sectors and cities across India. Of the overall portfolio the platform has exited/ secured the next round of funding for 70 of them. Today the platform has 550+ investors spread across 40+ cities within and outside India.