Dhruva Space funding hit a new milestone on 13 July 2026, as the Hyderabad-based spacetech startup secured ₹60 crore from the Antariksh Venture Capital Fund (AVCF) in a Bridge Round, as publicly reported on 2026-07-13. Dhruva Space becomes the first company to receive an investment from the AVCF, a dedicated government-backed venture capital fund for India’s space sector. The round forms part of the company’s ongoing pre-Series B fundraise.
Quick Highlights
- Founders: Chaitanya Dora Surapureddy, Sanjay Nekkanti, Abhay Egoor, and Krishna Teja Penamakuru
- Lead Investor: Antariksh Venture Capital Fund (AVCF)
- Participating Investors: SIDBI Venture Capital Limited (fund manager), IN-SPACe (anchor investor)
- Investor Background: AVCF is a ₹1,600 crore Category II AIF managed by SIDBI Venture Capital Limited and anchored by IN-SPACe with a ₹1,000 crore commitment; first announced in the Union Budget 2024
- Headquarters: Hyderabad, Telangana
- Announcement Date: 13 July 2026
Funding Breakdown
Use of Funds
As publicly reported, Dhruva Space will deploy the ₹60 crore to expand its satellite manufacturing capabilities, develop space infrastructure, advance critical technologies, and execute customer programmes across both domestic and international markets. The company also aims to use the capital for continued growth as a full-stack space engineering company, strengthening sovereign spacecraft manufacturing capabilities and accelerating product development.
Funding Timeline
This Bridge Round investment takes Dhruva Space’s ongoing pre-Series B funding round to a total of ₹275 crore raised to date, comprising ₹150 crore in equity and ₹125 crore in debt financing, as publicly reported. Prior to this round, the company had also received ₹105 crore in grant funding under the Centre’s Research, Development & Innovation Fund (RDIF) for Project Garud, aimed at reducing India’s reliance on foreign satellite systems.
Expansion Plans
Dhruva Space plans to execute customer programmes across both domestic and international markets using the fresh capital. The company currently holds an order book exceeding ₹500 crore, spanning satellite platforms, space infrastructure, mission services, and strategic national programmes. Project Garud, backed by the RDIF grant, targets the capacity to manufacture 500–600 satellites annually, significantly reducing India’s dependence on foreign satellite systems.
Significance
This deal carries outsized importance for India’s spacetech ecosystem: it marks the AVCF’s maiden deployment, signalling that the government’s ₹1,600 crore dedicated space fund — first announced in the Union Budget 2024 — has moved from planning to active investment. For Dhruva Space, receiving this validation as the fund’s very first investee reinforces its standing as one of India’s leading full-stack space engineering companies. The AVCF is expected to back around 35 Indian spacetech startups over the next five years, meaning this investment sets a visible benchmark for the fund’s selection criteria and deal size. With India’s spacetech market projected to reach $77 billion by 2030, institutional capital of this nature is critical to building the sovereign manufacturing capacity the sector needs.
These details have been verified against multiple publicly available reports as of 2026-07-13.
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Disclaimer: This report is compiled from publicly available sources and is for informational purposes only; funding figures are as publicly reported and may be subject to change.
