Dhruva Space has secured $9.4 million from IAN Alpha Fund, Technology Development Board, and other current investors in a combination of debt and equity.
The initial investment, of which Rs 24 crore was debt, will help the Hyderabad-based company create the first phase of its 2.8 lakh sq ft spaceship production facility in the city, according to founder and CEO Sanjay Nekkanti, who spoke with ET.
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A national award-winning space technology company, Dhruva Space Private Limited focuses on developing full-stack space engineering solutions. It has completed four space flights in the past two years.
With it’s most recent funding round, the total corpus raised in series A fundraising was Rs 123 crore, or about $14 million.
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About Dhruva Space
Dhruva Space, a full-stack space-engineering solutions provider, was founded in 2012 by Sanjay Nekkanti, Chaitanya Dora Surapureddy, Abhay Egoor, and Krishna Teja Penamakuru. The company operates in the space (satellite platforms & subsystems), launch (deployers), and ground (earth stations) segments.
