Digantara, India’s leading Space Situational Awareness Startup based in Bangalore, today announced the successful closure of an extended $12 million Series A round.
The round witnessed the participation of new investors including Aditya Birla Ventures (Venture Capital arm of Aditya Birla Group) and the Small Industries Development Bank of India (SIDBI), marking their first investment foray into the space technology sector, and reinforcing their commitment to Digantara’s vision of enabling safe and sustainable operations in space.
Digantara’s funding today is an extension of the $10 million it had raised back in June of last year led by PeakXV Partners (erstwhile Sequoia Capital India & SE Asia), and Kalaari Capital.
"It's heartening to witness this level of support, particularly when a leading global conglomerate like the Aditya Birla Group, and important financial institutions like SIDBI, backed by theGovernment of India, for the first time, invest in the space sector. This moveis a powerful indicator of the momentum building within India's space ecosystem, poised for accelerated development and global leadership in space innovation.” Anirudh Sharma, CEO, Digantara.
Digintara's all-inclusive Space-Mission Assurance Platform (Space-MAP) uses a multi-modal data pool to give stakeholders precise orbital insights and reliable statistics, guaranteeing the sustainability and safety of space activities.
“Space Tech is indeed the next frontier for innovation offering unprecedented opportunities for growth. The globalspace market is expected to cross US$ 1 trillion by the next decade. Werecognize the extraordinary potential for innovation in India and its capacity to become a significant global player in this domain. We have strong belief in Digantara’s abilityto develop advanced data led ‘Space Situational Awareness’ solutions forclients globally. The investment is in line with our vision to back outstanding founding teams, building businesses of tomorrow. Our endeavour is to open up ABG’s global ecosystem and network for the growth of our portfolio companies.” – Aryaman Vikram Birla, Founder, Aditya Birla Ventures.
“We're delighted to support Digantara, a pioneer in Space Domain Awareness, propelling India towards global leadership in space technology. Our investment from SVCLhighlights our belief in the sector's power to enhance India's prominence on the world stage, marking a significant leap in our nation's progress." Mr.S.Ramann, CMD SIDBI.
About Digantara
Digantara is a space situational awareness company developing an end-to-end infrastructure to address the difficulties of space operations and situational awareness through its pioneering Space - Mission Assurance Platform a.k.a. Space - MAP. Space-MAP will serve as a one stop solution for all space operations supporting stakeholders across the space value chain and life cycle of a spacecraft mission.
Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)
Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.
Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get allIndian statups news at Viestoires.
Weekly Startups Funding News [25 October 2024 - 29 October 2024]
Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding
Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.
GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.
Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.
Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
Omnivore Funding News - Omnivore’s third fund, the Omnivore Agritech and Climate Sustainability Fund, received $5 million in investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) Group.
Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.
Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.
11 September 2024 - Funding News
Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.
Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.
Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).
10 September 2024 - Funding News
Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.
Nestasia Funding News - Nestasia, a lifestyle and home décor brand, secured $8.35 million in a new funding round from Susquehanna Asia VC, Stellaris Venture Partners, and angel investors.
Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.
AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.
Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.
9 September 2024 - Funding News
Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.
2 September 2024 Monday - Latest Funding News in India
Mintifi Funding News- Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.
Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.
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