Dhruva Space lands ₹60 crore as first bet from India's Antariksh space fund
What's the deal? Hyderabad-based space tech startup Dhruva Space has raised 600,000,000 INR (about $6.3 million) in an early-stage round from the Antariksh Venture Capital Fund (AVCF). It is the first company to receive backing from the government-linked fund.
Why now? The announcement came at the 10th IN-SPACe Industry Connect event in Ahmedabad. AVCF, anchored by IN-SPACe and managed by SIDBI Venture CapitalDealroom has a profile for this one. Try Dealroom → Limited, was approved in 2024 but delayed its first investments to early FY 2027 due to regulatory processes and the early-stage nature of India's space tech ecosystem.
What's the endgame? Chaitanya Dora Surapureddy, co-founder of Dhruva Space, said the investment validates the company's "long-term strategy."
The signal: The round sits at roughly the median for deals of its kind, but its symbolic weight is larger — it marks the first cheque from a state-backed fund built to seed India's private space sector.
Image credit: beltz6
