Dhruva Space Becomes First Recipient of Investment Under India's Sovereign Space-Tech Fund, the Antariksh Venture Capital Fund

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Announced at the 10th IN-SPACe Industry Connect event in Ahmedabad, Dhruva Space has secured an INR 60 crore investment from the Antariksh Venture Capital Fund (AVCF), becoming the first company to receive funding from the dedicated Space-Tech fund anchored by IN-SPACe and managed by SIDBI Venture Capital Limited.

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Pictured above (left to right): Dr. Vinod Kumar, Director, Promotion Directorate, IN-SPACe; Dr. P. K. Jain, Director, Program Management and Authorisation, IN-SPACe; Mr. Keyur Gandhi, Director Space Regulatory & Commercialization, Dhruva Space; Mr. Arup Kumar, Managing Director & CEO, SIDBI Venture Capital; Mr. Abhay Egoor, Chief Technology Officer & Co-Founder, Dhruva Space; Dr. Pawan Goenka, Chairman, IN-SPACe; Mr. Chaitanya Dora Surapureddy, Co-Founder, Dhruva Space; Dr. Rajeev Jyoti, Director, Technical Directorate, IN-SPACe; Mr. Anupam Anand, Joint Secretary, IN-SPACe; and Air Vice Marshal Dhananjay Vasant Khot (Retd.), Principal Consultant & Director - SP, IN-SPACe

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Ahmedabad, GJ, INDIA [Monday 13 July 2026] The Antariksh Venture Capital Fund (AVCF), India’s dedicated Space-Tech fund anchored by IN-SPACe and managed by SIDBI Venture Capital Limited, has successfully executed its opening investment. Establishing a monumental milestone for the Indian aerospace ecosystem, the Fund today announced the deployment of an INR 60 crore investment into Dhruva Space, a full-stack Space engineering solutions provider. This milestone, unveiled at the prestigious IN-SPACe Industry Connect event in Ahmedabad, Gujarat, signals the active deployment phase of this landmark institutional capital framework to empower private Non-Governmental Entities (NGEs).

Sponsored and managed by SIDBI Venture Capital Limited and anchored by IN-SPACe, the Antariksh Venture Capital Fund was established with a formidable corpus of INR 1,600 crore. The primary objective of AVCF is to provide institutional capital to Space-tech start-ups at various stages of development, supporting the scaling of operations and the commercialization of new technologies. This structural access to growth capital empowers start-ups to contribute significantly to India's broader Space ambitions.

With this investment, Dhruva Space’s ongoing pre-Series B round stands at INR 275 crore raised to date, comprising INR 150 crore in equity and INR125 crore in debt financing.

Shri Arup Kumar, Managing Director & CEO, SIDBI Venture Capital Limited, states “Our first investment reflects 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-stack Space company with the vision, technology, and execution capabilities to compete on the global stage. We are pleased to back the team as they build the future of the Space economy.”

Speaking on the occasion, Shri Chaitanya Dora Surapureddy, Co-Founder, Dhruva Space, says, “We are honoured to become the first investee of the Antariksh Venture Capital Fund. This investment is a strong endorsement of Dhruva Space's vision, execution, and long-term commitment to building sovereign Space capabilities from India. The continued support from SIDBI Venture reflects a steadfast belief in Dhruva Space's capabilities, growth trajectory, and contribution to India's evolving Space ecosystem. As demand for Space-based solutions continues to grow globally, this capital will enable us to accelerate infrastructure development, scale manufacturing, and execute on our growing order book while contributing meaningfully to India's emergence as a leading Space industrialisation hub and Spacefaring nation.” Dhruva Space was represented by Chaitanya Dora Surapureddy; Abhay Egoor, Chief Technology Officer & Co-founder; and Keyur Gandhi, Director - Space Regulatory.

The investment comes amid strong business momentum for Dhruva Space, which currently maintains an order book exceeding INR 500 crore, reflecting growing demand across satellite platforms, Space infrastructure, mission services, and strategic national programmes. The capital will support Dhruva Space’s next phase of growth, including expansion of its satellite manufacturing capabilities, development of Space infrastructure, advancement of critical technologies, and execution of customer programmes across domestic and international markets.

As India’s Space economy enters a new phase of growth, the investment marks a significant milestone in the mobilisation of institutional capital towards indigenous Space enterprises and underscores increasing confidence in the commercial and strategic potential of the Nation’s private Space sector.

About SIDBI Venture Capital

SIDBI Venture Capital Limited (SVCL) is a wholly owned subsidiary of the Small Industries Development Bank of India (SIDBI), India's apex financial institution for the MSME sector. Established in 1999, SVCL is an investment management company with a track record of supporting high-growth businesses across sectors including technology, manufacturing, services, agribusiness, financial inclusion, and innovation-led startups. Through its various investment platforms, SVCL focuses on partnering with strong leadership teams and scalable enterprises that contribute to India's economic growth, innovation ecosystem, and industrial development.

About Dhruva Space

Dhruva Space Private Limited is a full-stack Space Engineering solutions provider based in Hyderabad, India. The company is active across Space, Launch, and Ground segments and supports Civilian and Defense clients worldwide.

Dhruva Space offers Satellite/s coupled with Earth Station/s and Launch Service/s as an integrated solution or individually as technology solutions to power Space-based applications on Earth and beyond.

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