Chennai, April 22 -- In a significant move towards vertical integration in India's burgeoning space technology sector, Dhruva Space, a Hyderabad-based startup, has raised Rs 78 crore (USD 9.6 million) in a Series A2 funding round.
The investment was led by IAN Alpha Fund, with participation from existing investors such as Mumbai Angels, Indian Angel Network, Arvog, Primarc, BlueAshvaCapital, OswaalBooks, and KshamaCapital.
The fresh capital influx will be utilised to construct the first phase of Dhruva's ambitious 280,000 square feet satellite infrastructure mass production facility at Shamshabad, near Hyderabad.
This spacecraft-related facility, scheduled for completion within two years with a capital expenditure of around Rs 130 cr...