Dhruva Space Announces Rs 123 Crore In Series A Funding From Indian Angel Network Alpha Fund And Others

Dhruva Space Announces Rs 123 Crore In Series A Funding From Indian Angel Network Alpha Fund And Others

Dhruva Space, a comprehensive provider of space engineering solutions headquartered in Hyderabad, has announced the successful completion of their Series A funding round, raising Rs 123 crore. The investment will be allocated towards the establishment of their upcoming spacecraft manufacturing facility, strategic business acquisitions, and enhancing product offerings to penetrate the global market.

Participating in Dhruva Space’s Series A funding round are Indian Angel Network Alpha Fund, Blue Ashva Capital, Silverneedle Ventures, BIG Global Investment JSC (BITEXCO Group), IvyCap Ventures, Mumbai Angels, and Blume Founders Fund.

Dhruva Space’s Series A1 secured Rs 45.51 crore, while Series A2 garnered Rs 78 crore. Notably, Series A2 includes Rs 10 crore in venture debt from the Small Industries Development Bank of India (SIDBI) and Rs 14 crore in venture debt from the Technology Development Board.

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