Key Takeaways
- • Dhruva Space secured ₹60 crore in maiden funding from the Antariksh Venture Capital Fund (AVCF), marking AVCF's first investment since its establishment with a ₹1,600-crore corpus.
- • The Hyderabad-based space engineering company's pre-Series B funding round now totals ₹275 crore (₹150 crore equity, ₹125 crore debt), with an order book exceeding ₹500 crore.
- • AVCF, anchored by IN-SPACe and managed by SIDBI Venture Capital, targets institutional capital deployment across space-tech startups at multiple development stages to support commercialization and operational scaling.
- • Dhruva Space operates as a full-stack space company integrating innovation, manufacturing, mission execution, and commercial deployment—positioning it as a template for next-generation space leaders in India's evolving ecosystem.
Summary
Dhruva Space, a Hyderabad-based space engineering solutions provider, has secured ₹60 crore in institutional funding from the Antariksh Venture Capital Fund (AVCF), representing the fund's inaugural investment since its launch. The announcement was made at the IN-SPACe Industry Connect event in Ahmedabad on Monday, July 13, 2026, with participation from IN-SPACe chairman Pawan Goenka, SIDBI Venture Capital MD and CEO Arup Kumar, and Dhruva Space co-founder Chaitanya Dora Surapureddy.
AVCF, a dedicated space-technology venture fund anchored by IN-SPACe (Indian National Space Promotion and Authorization Centre) and operationally managed by SIDBI Venture Capital, was established with a corpus of ₹1,600 crore. The fund's primary mandate is to deploy institutional capital to space-tech startups across various development stages, enabling operational scaling and accelerating the commercialization of emerging technologies. SIDBI Venture Capital's leadership framed this inaugural investment as validation of a strategic thesis: that India's next generation of space leaders will emerge from companies capable of integrating innovation, manufacturing, mission execution, and commercial deployment in a unified operating model.
With this ₹60-crore injection, Dhruva Space's ongoing pre-Series B funding round has reached ₹275 crore in total capital raised, comprising ₹150 crore in equity financing and ₹125 crore in debt. The company's order book exceeds ₹500 crore, signaling substantial commercial traction. According to co-founder Chaitanya Dora Surapureddy, the capital will be deployed to accelerate infrastructure development, scale manufacturing operations, and execute against the growing order book. SIDBI Venture Capital's leadership emphasized confidence in Dhruva Space's technical capabilities, growth trajectory, and strategic importance to India's expanding space sector ecosystem.
AVCF, a dedicated space-technology venture fund anchored by IN-SPACe (Indian National Space Promotion and Authorization Centre) and operationally managed by SIDBI Venture Capital, was established with a corpus of ₹1,600 crore. The fund's primary mandate is to deploy institutional capital to space-tech startups across various development stages, enabling operational scaling and accelerating the commercialization of emerging technologies. SIDBI Venture Capital's leadership framed this inaugural investment as validation of a strategic thesis: that India's next generation of space leaders will emerge from companies capable of integrating innovation, manufacturing, mission execution, and commercial deployment in a unified operating model.
With this ₹60-crore injection, Dhruva Space's ongoing pre-Series B funding round has reached ₹275 crore in total capital raised, comprising ₹150 crore in equity financing and ₹125 crore in debt. The company's order book exceeds ₹500 crore, signaling substantial commercial traction. According to co-founder Chaitanya Dora Surapureddy, the capital will be deployed to accelerate infrastructure development, scale manufacturing operations, and execute against the growing order book. SIDBI Venture Capital's leadership emphasized confidence in Dhruva Space's technical capabilities, growth trajectory, and strategic importance to India's expanding space sector ecosystem.
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