HYDERABAD. In a major boost to India’s commercial space sector, full-stack space engineering solutions provider Dhruva Space has secured a strategic investment of ₹60 crore ($7.2 million) from the newly established Antariksh Venture Capital Fund (AVCF). The announcement was officially made at the IN-SPACe Industry Connect event held in Ahmedabad, cementing Dhruva Space’s position as a frontrunner in the nation’s rapidly expanding private aerospace ecosystem.
The transaction marks a historic milestone for India’s space economy, as Dhruva Space becomes the very first recipient of capital from AVCF. The dedicated space-tech fund operates with a substantial corpus of ₹1,600 crore. It is anchored by the Indian National Space Promotion and Authorisation Centre (IN-SPACe), the country’s autonomous space regulatory body and is actively managed by SIDBI Venture Capital Limited (SVCL).
This fresh injection of capital significantly fortifies Dhruva Space’s ongoing pre-Series B funding round, pushing the total capital raised in this cycle to ₹275 crore. The round is uniquely structured, consisting of ₹150 crore in equity and ₹125 crore in debt financing. Company leadership indicated that the new funds arrive at a critical juncture, helping the enterprise address its massive and growing order book, which currently stands at an impressive valuation exceeding ₹500 crore.
Chaitanya Dora Surapureddy, Co-founder of Dhruva Space, expressed immense confidence in the partnership, stating that the continued backing from SIDBI Venture Capital reflects a steadfast belief in the company’s long-term capabilities and growth trajectory. He emphasised that the capital will allow the firm to scale manufacturing operations, develop critical space infrastructure, and effectively execute pending orders across both domestic and international defence and commercial markets.
The investment reflects a larger paradigm shift within Indian space-tech towards self-reliance and comprehensive mission ownership. Commenting on the investment, Arup Kumar, Managing Director and Chief Executive Officer of SIDBI Venture Capital, stated that their premier investment highlights a firm conviction that the next generation of global space leaders will be built by full-stack firms. He added that companies must successfully integrate innovative design, native manufacturing, mission execution and commercial deployment under a single roof – a multi-disciplinary capability that Dhruva Space has systematically demonstrated.
AVCF was designed specifically to bridge the early-to-mid-stage funding gap for domestic aerospace startups. By providing institutional capital at crucial growth phases, the fund aims to help homegrown companies commercialise breakthrough technologies, scale production and compete against legacy international aerospace conglomerates.
Dhruva Space intends to utilise the ₹60 crore to accelerate its next ambitious phase of expansion. Key priorities include the technological advancement of its proprietary satellite platforms, expanding automated cleanroom facilities and fulfilling complex customer programmes.
As India moves aggressively to capture a larger share of the global space market -traditionally dominated by the US, Europe and China – public-private collaborations like the AVCF-Dhruva partnership are proving essential. With a fully backed balance sheet and an order book overflowing with global commitments, the Hyderabad startup is well-positioned to lead India’s private sector directly into the cosmos.
