Space tech startup Dhruva raises Rs 22 cr to launch satellite solutions
Dhruva Space raises Rsc22 crore led by IAN Fund and Blue Ashva Capital to position itself as a leading player in the space frontier. The space startup is gearing up to launch new offerings like Satellite as a Service, Space-Grade Solar Arrays and Ground Station Solutions, both nationally & globally.
Headquartered in Hyderabad and Austria, the company is already executing orders worth several million dollars and is well set to expand its client base to other key locations, including the US and Middle East.
This fast-growing space company was launched in 2012 by Sanjay Nekkanti, an Alumnus of SRM University and part of the team that built India’s first student Satellite and has been joined by Abhay Egoor, Krishna Teja, and Chaitanya Dora, all Alumni of BITS-Pilani, to offer Satellites coupled with Earth Stations and Launch Services as an integrated /individual Indian made solution to power space-based strategic applications to Indian and overseas clients.
The current space ecosystem is ripe for innovation. The creation and maintenance of space assets today is a herculean task which prevents rapid growth in the space frontier.
Space customers have to go through a cumbersome process of building satellites, acquiring launch services, and maintaining ground systems for data management which may not be part of their core strength.
Dhruva Space solves this problem through its proprietary Full-Stack Space Engineering Solutions. The company offers modular application-agnostic satellite platforms to enable faster, reliable, and cost-effective access to Space.
Coupled with providing launch and ground station services, Dhruva Space also provides integrated one-stop access to the clients in owning and operating space-based assets.
The company is already active across Space, Launch, and Ground segments and supports both Civil and Defense clients worldwide. The company has several firsts to its name such as being the first Indian private company to secure an order for end-to-end Design and Development of Space-Qualified Solar Arrays for Satellites. Dhruva Space is also the first and currently the only Indian private entity with both satellite & launcher interfaces.
The company has already started to foster industry-academia collaborations and have already collaborated with BITS -Hyderabad, and Indian Institute of Technology – Hyderabad. Company is incubated in European Space Agency’s Business Incubation Centre in Austria, providing them access to the European Market and Technology.
Dhruva Space announced this round of investment at the Expo 2020 in Dubai. Dhruva Space was invited by FICCI for the inaugural of the Indian pavilion in presence of Union Minister for Commerce and Industry Piyush Goel wherein they showcased the innovative products and solutions at the Indian Innovation Bus.
In course of the Expo 2020, Dhruva Space also signed a MoU with Larsen & Toubro to provide power solutions for satellite missions across the globe. Dhruva Space has worked extensively in building Space Grade Solar Panels which coupled with the capabilities of L&T will help both achieve their goals in the Space Sector.
Dhruva Space is also going to be present at the International Astronautical Congress 2021 hosted by Mohammed Bin Rashid Space Centre (MBRSC) which is being held in Dubai from 25th October to 29th October.
Speaking on the development, Dhruva Space Cofounder Sanjay Nekkanti said the company is the only Indian private entity to secure an order for end-to-end Design and Development of Space-Qualified Solar Arrays for Satellites.
“With our passion for creating exceptional small satellite systems to help space exploration technology meet human imagination, we are already working on launching our first satellite for a client. We are glad that the latest funding came at the right time. This fundraise will enable us to launch new solutions and expand our footprint to more unique markets both nationally and internationally,” said Sanjay Nekkanti.
Further adding, Indian Angel Network (IAN) Cofounder Padmaja Ruparel said over the next decade, it is estimated that nearly 30,000 satellites will be launched into orbit.
“To enable such rapid and large-scale deployment of space assets, there needs to be a fundamental change in how the satellites are designed, manufactured, and launched. This is where Dhruva Space steps in – offering Full-stack Space Engineering Solutions for Satellite Platforms, Launch planning, and Ground Data Reception,” said Padmaja Ruparel.
Dhruva’s solutions are tailored to meet mission requirements and is well positioned to be a category leader. We are delighted partner with the excellent passionate co-founder team of Sanjay, Abhay, Krishna and Chaitanya.”
Blue Ashva Capital Founder Satya Bansal added India is increasingly becoming a global space-tech hub given her technological prowess and cost leadership.
“This new era of Indian Space-tech is reminiscent of India’s IT revolution and shows a bright future ahead for homegrown Space companies to compete at a global scale. We are delighted to partner with Sanjay, Abhay, Krishna, Chaitanya and the entire Dhruva Space team to be a leading Space-tech solution provider to local and global customers,” said Satya Bansal. NFA Post
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