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HomeLaw firmsDeals and TransactionsKhaitan Guides SIDBI's Strategic Investment of INR 100 crore in Digantara Research...

Khaitan Guides SIDBI’s Strategic Investment of INR 100 crore in Digantara Research and Technologies, Enhancing India’s Space Sector

Digantara secures ₹100 crores Series A funding, with SIDBI Venture Capital leading the investment round alongside PeakXV, Kalaari Capital, and Aditya Birla Ventures, facilitated by Khaitan & Co’s legal advisory expertise.

In a significant move to bolster India’s burgeoning space sector, SIDBI Venture Capital Limited (SIDBI) has announced its pivotal investment in Digantara Research and Technologies Private Limited (Digantara). The Series A funding round, totaling approximately ₹100 crores ($12 million), was spearheaded by SIDBI, with participation from esteemed investors including PeakXV, Kalaari Capital, and Aditya Birla Ventures.

Digantara, a pioneering entity in the realm of space research and technology development, is dedicated to advancing solutions for space situational awareness and navigation. Their focus encompasses the development of cutting-edge aerospace technology products aimed at enhancing the safety and sustainability of space operations.

Khaitan & Co, a leading legal advisory firm, played a crucial role in facilitating this landmark investment deal, providing comprehensive guidance to SIDBI throughout the transaction process. The firm’s scope of work encompassed meticulous legal due diligence, negotiation, and finalization of crucial agreements, including the share subscription agreement, shareholders’ agreement, and employment agreements for Digantara’s founders. Additionally, Khaitan & Co handled all ancillary documentation pertaining to the transaction, ensuring seamless execution and regulatory compliance.

The transaction team from Khaitan & Co, led by Sanchit Agarwal (Partner), Pulkit Chaturvedi (Principal Associate), and Jubin Jay (Senior Associate), demonstrated exceptional expertise and dedication in navigating the complexities of the deal. Their adept handling of legal intricacies and strategic negotiations contributed significantly to the successful conclusion of the investment, paving the way for Digantara’s continued growth and innovation in the space sector.

SIDBI’s strategic investment in Digantara underscores the organization’s commitment to fostering innovation and technological advancement in critical sectors such as space research. By partnering with Digantara, SIDBI aims to catalyze the development of indigenous capabilities in space technology, driving India’s progress towards becoming a global leader in space exploration and satellite technology.

The collaboration between SIDBI and Digantara, facilitated by Khaitan & Co’s expert legal advisory, marks a significant milestone in India’s space sector. With SIDBI’s support and the innovative endeavors of Digantara, the nation is poised to achieve new heights of excellence in space research and technology development, further solidifying its position on the global space stage.

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