Team StartupCity

• Dhruva Space plans to raise $6 Million (Rs 51.76 crore) in its pre-Series B round, as per regulatory filings.
• AVCF1 will lead the round, with Aranya Holding Ventures and 33 other investors set to join, showing strong backing.
• The fundraise is expected to push Dhruva Space’s post-money valuation to about $215 million, highlighting its growing market position.

Space-tech startup Dhruva Space is set to launch a pre-Series B round to raise Rs 51.76 crore (about $6 million), according to its regulatory filings. The round will be anchored by AVCF1 (Aditum Venture Capital Fund) and will include 33 other investors, the company said.

The board has approved a special resolution to issue one equity share and 553 pre-Series B preference shares at Rs 9,34,429 per share, which together make up the proposed capital raise. AVCF1 plans to contribute Rs 26.16 crore, while Aranya Holding Ventures LLP is lined up to invest Rs 10 crore. Remaining capital is expected from Hyderabad Angel Fund, AR Enterprises, Ativira Technologies, and several angel investors.

Market estimates from a report put Dhruva Space’s post-money valuation at roughly $215 million if the round closes as planned. The Hyderabad-based startup previously closed a $15 million Series A and will be adding this new tranche to its fundraising history.

Founded by Sanjay Nekkanti and Chaitanya Dora, Dhruva Space builds and operates across satellites, launch services, and ground infrastructure. The company has launched eight payloads over the past two years, including the Thybolt satellites (Nov 2022) and the LEAP-TD mission (Jan 1, 2024).

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India’s private space sector is drawing growing investor attention, with startups such as Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Vesta Space, Digantara, and InspeCity expanding their capabilities. Dhruva Space’s planned pre-Series B would add momentum to the country’s booming space-tech ecosystem.