Dhruva, a space technology startup, raises Rs 22 crore to launch a satellite.

As part of a funding round led by The IAN Fund and Blue Ashva Capital, the space technology company Dhruva Space has raised Rs 22 crore to position itself as a leading player in the space frontier. In preparation for the launch of new offerings such as Satellite as a Service, Space-Grade Solar Arrays, and Ground Station Solutions, the company is expanding its operations both nationally and internationally.

The company, which has its headquarters in Hyderabad and Austria, claims to have already completed orders worth several million dollars and is well-positioned to expand its client base to other key locations, including the United States and the Middle East.

In a statement, co-founder Sanjay Nekkanti stated that Dhruva Space has been awarded the contract for the design and development of space-qualified solar arrays for satellites. He added that the company is the only Indian private entity to receive such an order.

Dhruva, a space technology startup
Dhruva, a space technology startup

Our passion for developing exceptional small satellite systems to help space exploration technology meet human imagination has already resulted in the development of our first satellite for a client, according to Nekkanti.” We will be able to launch new solutions and expand our footprint to more unique markets both nationally and internationally as a result of this fundraising effort.

Sanjay Nekkanti, an SRM alumnus, founded the company in 2012 and is based in Bangalore

Alumnus of BITS-Pilani, Abhay Egoor is a member of the team that built India’s first student satellite, and he has joined forces with Krishna Teja and Chaitanya Dora, who are also BITS-Pilani graduates, to provide satellites, earth stations, and launch services as part of an integrated or individual Indian made solution to power space-based strategic applications to Indian and international clients.

Satya Bansal, the founder of Blue Ashva Capital, believes that India is increasingly becoming a global space-technology hub as a result of the country’s technological prowess and low cost of production. “This new era of Indian space-tech is reminiscent of India’s information technology revolution and demonstrates that homegrown space companies have a bright future ahead of them to compete on a global scale,” Bansal said.

Read More: Tech Mahindra invests $120 million in two acquisitions to bolster its digital portfolio.


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