Dhruva Space raises 22 Crore in a round led by Mumbai Angel Network, IAN and Blue Ashva Capital

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Launched in 2012, Dhruva Space has become a renowned company in the world of Space Technology. With headquarters in India as well as Austria, the startup is already executing orders worth millions of dollars and is all set to expand to other key locations as well. The company presently builds satellite platforms, launch solutions and ground stations for national as well as international clients. It wants to further launch new offerings like Satellite as a Service, Space-Grade Solar Arrays and Ground Station Solutions.

The company was founded by Sanjay Nekkanti, a SRM University alumni. Sanjay was joined by Abhay Egoor, Krishna Teja, and Chaitanya Dora, all alumni of BITS-Pilani, to form Dhruva Space and offer satellites coupled with Earth Stations and Launch Services as an integrated or individual solution to power space-based strategic applications to Indian and overseas clients.

The company had also recently announced its partnership with the business powerhouse Larsen and Tubro to support the Power requirements of space missions, which include power generation using space grade solar panels, power distribution & energy storage.

“We are the only Indian private entity to secure an order for end-to-end Design and Development of Space-Qualified Solar Arrays for Satellites. With our passion for creating exceptional small satellite systems to help space exploration technology meet human imagination, we are already working on launching our first satellite for a client. We are glad that the latest funding came at the right time. This fundraise will enable us to launch new solutions and expand our footprint to more unique markets both nationally and internationally,” said Sanjay Nekkanti, co-Founder, Dhruva Space.

“Space Technology is perhaps one of the most exciting, innovative, and fastest-growing sectors in the world. Dhruva Space is building robust solutions that will further drive the growth of India’s Space-tech industry. The platform is extremely capital-efficient, and we believe that this funding will enable them to scale and develop full-stack solutions both as integrated services as well as individual technology solutions that can be utilized for space-related applications on Earth and beyond. We believe that this is merely the beginning of Dhruva Space’s journey, and they will reach greater heights soon,” added Nandini Mansinghka, Co-Founder & CEO – Mumbai Angels Network.

Satya Bansal, Founder of Blue Ashva Capital, is of the firm belief that India is increasingly becoming a global space-tech hub given her technological prowess and cost leadership. “This new era of Indian Space-tech is reminiscent of India’s IT revolution and shows a bright future ahead for homegrown Space companies to compete at a global scale,” said Bansal.

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