[Funding alert] Dhruva Space Raises $9 Mn From IAN Alpha Fund, Others

In its most recent investment round, space tech startup Dhruva Space has secured $9.4 million (Rs 78 crore) from IAN Alpha Fund, Technology Development Board, and other current investors in a combination of debt and equity.

Founder and CEO Sanjay Nekkanti told ET that the cash infusion, of which Rs 24 crore was in debt, will assist the Hyderabad-based business in establishing the first stage of its 2.8 lakh sq ft spacecraft production facility in the city.

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Dhruva Space Private Limited is a National Award-winning space technology company focused on building full-stack space engineering solutions. In the last two years, Dhruva Space has finished four missions to space.

The entire corpus collected in series A fundraising with Dhruva Space's most recent funding round is Rs 123 crore, or roughly $14 million.

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About Dhruva Space

Founded in 2012 by Sanjay Nekkanti, Chaitanya Dora Surapureddy, Abhay Egoor, and Krishna Teja Penamakuru, Dhruva Space is a full-stack Space-Engineering solutions provider, active across the Space (Satellite Platforms & Subsystems), Launch (Deployers) and Ground (Earth Stations) segments.

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