Dhruva Space secures ₹60 crore investment from AVCF Space Technology Fund

IN-SPACe Chairman Pawan Goenka, SIDBI Venture Capital MD & CEO Arup Kumar, Dhruva Space Co-Founder Chaitanya Dora Surapureddy and others at the IN-SPACe Industry Connect event in Ahmedabad on Monday. | Photo Credit: Arrangements

Space engineering solutions provider Dhruva Space has secured an investment of ₹ 60 crore from Antariksh Venture Capital Fund (AVCF).

It is the first company to receive funding from a dedicated space technology fund anchored by IN-SPACe and managed by SIDBI Venture Capital, Dhruva Space said at an announcement made at the IN-SPACe Industry Connect event in Ahmedabad on Monday.

“Our first investment reflects a strong belief that the next generation of space leaders will be built by companies that can integrate innovation, manufacturing, mission execution and commercial deployment under one roof. Dhruva Space has established itself as a full-fledged space company with a vision,” SIDBI Venture Capital MD and CEO Arup Kumar said in a statement.

Established with a corpus of ₹1,600 crore, AVCF’s primary objective is to provide institutional capital to space technology start-ups at various stages of development, support scale-up of operations and commercialization of new technologies.

With the latest investment, Dhruva Space’s ongoing Pre-Series B round stands at ₹275 crore to date, with ₹150 crore in equity and ₹125 crore in debt funding.

Co-Founder Chaitanya Dora Surapureddy said, “The continued support from SIDBI Venture reflects our unwavering faith in Dhruva Space’s capabilities, growth trajectory and contribution to the evolving Indian space ecosystem. This capital will enable us to accelerate infrastructure development, scale manufacturing and realize our growing order book.”

Dhruva Space said its order book is over ₹500 crore. The investment will support its next phase of growth, including expansion of satellite production capacities, development of space infrastructure, development of critical technologies and implementation of customer programs in domestic and international markets.

Published – 13 Jul 2026 22:07 IST