Dhruva Space Secures First Investment From India’s Antariksh Venture Fund

Hyderabad-based space tech startup Dhruva Space has become the first company to receive funding from the Antariksh Venture Capital Fund (AVCF), securing a ₹60 crore investment from the government-backed space technology fund. 

The announcement was made at the 10th IN-SPACe Industry Connect event in Ahmedabad. The fund, anchored by IN-SPACe and managed by SIDBI Venture Capital Limited, was initially approved in 2024. Post which, due to regulatory processes and the early-stage nature of India’s spacetech ecosystem, the fund was postponed to begin investing in early FY 2027. 

Chaitanya Dora Surapureddy, Co-founder of Dhruva Space, said the investment validates the company’s long-term strategy.

“As demand for space-based solutions continues to grow globally, this capital will enable us to accelerate infrastructure development, scale manufacturing, and execute on our growing order book,” he said.

This investment now marks the first deployment of capital from the ₹1,600 crore AVCF, which was set up to provide institutional funding to space technology startups across different stages of growth. 

Dhruva said it currently has an order book exceeding ₹500 crore across satellite platforms, space infrastructure, mission services and national programmes. The new capital will support the next phase of growth, including the expansion of satellite manufacturing and the development of critical technologies, infrastructure and customer programme execution.

With the latest investment, Dhruva Space’s ongoing pre-Series B round has reached ₹275 crore, including ₹150 crore in equity and ₹125 crore in debt financing.

Arup Kumar, Managing Director and CEO of SIDBI Venture Capital Limited, said the investment reflects confidence in companies that can combine innovation, manufacturing and commercial deployment.

“Our first investment reflects a strong belief that the next generation of space leaders will be built by companies that can integrate innovation, manufacturing, mission execution, and commercial deployment under one roof,” Kumar said. “Dhruva Space has established itself as a full-stack space company with the vision, technology, and execution capabilities to compete on the global stage.”

The investment comes as India seeks to expand private participation in the space sector and increase the flow of institutional capital into domestic space technology companies. According to the company, the funding signals growing confidence in the commercial potential of India’s private space ecosystem.