{"id":32279,"date":"2024-04-22T02:38:46","date_gmt":"2024-04-22T02:38:46","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/22\/dhruva-space-bags-9-million-from-ian-alpha-fund-others\/"},"modified":"2024-04-22T02:38:47","modified_gmt":"2024-04-22T02:38:47","slug":"dhruva-space-bags-9-million-from-ian-alpha-fund-others","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/22\/dhruva-space-bags-9-million-from-ian-alpha-fund-others\/","title":{"rendered":"Dhruva Space bags $9 million from IAN Alpha Fund, others"},"content":{"rendered":"
\"Dhruva<\/div>


\n<\/p>\n

Spacetech startup<\/a> Dhruva Space has raised $9.4 million (Rs 78 crore) in a mix of equity and debt from IAN Alpha Fund, Technology Development Board and other existing investors in its latest funding round<\/a>.
The capital infusion, of which Rs 44 crore was in debt, will help the Hyderabad-based startup set up its first phase of its 2.8 lakh sq ft spacecraft manufacturing facility in the city, founder and CEO Sanjay Nekkanti told ET.<\/p>\n
\n
\n

Elevate Your Tech Prowess with High-Value Skill Courses<\/h3>\n\n\n\n\n\n\n
Offering College<\/th>\nCourse<\/th>\nWebsite<\/th>\n<\/tr>\n
IIM Lucknow<\/td>\nIIML Executive Programme in FinTech, Banking & Applied Risk Management<\/td>\nVisit<\/a><\/td>\n<\/tr>\n
MIT<\/td>\nMIT Technology Leadership and Innovation<\/td>\nVisit<\/a><\/td>\n<\/tr>\n
IIM Kozhikode<\/td>\nIIMK Advanced Data Science For Managers<\/td>\nVisit<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

<\/div>\n

The latest funding comes amid a big push from the government towards startups in the spacetech sector. It had invited the founders of spacetech startups such as Agnikul Cosmos, Bellatrix Aerospace, Skyroot Aerospace and Dhruva Space<\/a> to meet Tesla and SpaceX chief Elon Musk in New Delhi on Monday, a visit that now stands postponed.<\/p>\n

Dhruva Space has completed four space missions<\/a> over the past two years. <\/p>\n

In these missions, the startup has sent eight of the total 14 number of payloads in space authorised by the government\u2019s Indian National Space Promotion and Authorisation Centre (IN-SPACe) in the last 24 months. These include deployers, satellites, communication systems and nanosatellite platforms, Nekkanti said.<\/p>\n

The Hyderabad facility, housed in Shamshabad near the international airport, will comprise manufacturing units for spacecraft solar arrays, satellites subsystems, separation systems for launch vehicles and also an assembly integration and testing facility, Nekkanti added.<\/p>\n

\n
\n
\n
\n

Discover the stories of your interest<\/h3>\n<\/div>\n
<\/span><\/span><\/div>\n<\/div>\n<\/section>\n<\/div>\n


The company registered Rs 15 crore in total revenues in the financial year ended March 2024, he added. \u201cWe\u2019re looking at a significant revenue multiple next year. In about three to five years, we are looking at about Rs 1,500-2,500 crore in terms of aggregate revenue,\u201d Nekkanti said.Nekkanti added that the company is also looking to raise another financing round of above $30 million in the 12-18 months to further infrastructure requirements and fulfill some of the programmes being built for customers.<\/p>\n

Founded in 2012 by Nekkanti, Chaitanya Dora Surapureddy, Abhay Egoor and Krishna Teja Penamakuru, Dhruva Space is a space engineering solutions provider based in Hyderabad, India and in Graz, Austria. The company is active across three areas \u2013 satellites manufacturing, launch, and ground segments \u2013 supporting civilian and defense clients globally.<\/p>\n

The company expects the satellite manufacturing<\/a> and ground operations to be equally significant chunks of its revenue pie, but the launch services to be the least of the revenue contributors going forward. <\/p>\n

With the latest round of funding at Dhruva Space, the total corpus raised at the company now stands at Rs 123 crore (about $14 million). <\/p>\n

\u201cWith the increasing demand for satellites and satellite-enabled services globally, the funding will be instrumental in supporting the industrialisation and manufacturing of Dhruva Space\u2019s full-stack products, enabling significant team growth, increased development of capability and infrastructure, and fueling the international expansion of our business,\u201d Nekkanti said.<\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Spacetech startup Dhruva Space has raised $9.4 million (Rs 78 crore) in a mix of equity and debt from IAN Alpha Fund, Technology Development Board and other existing investors in its latest funding round. The capital infusion, of which Rs 44 crore was in debt, will help the Hyderabad-based startup set up its first phase […]<\/p>\n","protected":false},"author":2,"featured_media":32280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[32250,7918,36160,33363,5215,11884,22287,2458,33422,28,36159,34803],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/32279"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=32279"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/32279\/revisions"}],"predecessor-version":[{"id":32281,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/32279\/revisions\/32281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/32280"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=32279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=32279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=32279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}