The Economic Times, Oct 25, 2021
Bengaluru: Indian space technology startup Dhruva Space has raised Rs 22 crore in funding led by Indian Angel Network (IAN) Fund and Blue Ashva Capital as it eyes the global market for integrated satellite manufacturing, launch and ground station services.
The Hyderabad, India and Austria-based company, which claims it is already executing projects worth millions of dollars, said it will utilise the capital to expand its operations globally, including entering markets such as the United States and Middle East.
“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, cofounder at Dhruva Space.
Dhruva has developed a modular application-agnostic small satellite platform that will enable commercial, defence and academic sectors to quickly, cheaply and reliably get access to space. The company rounds out its offering with launch and ground station services, making for a fully integrated solution for anyone looking to gain access to space.
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