Dhruva Space lines up $15.7M pre-Series B round at $230M valuation
What's the deal? Hyderabad spacetech company Dhruva Space is raising US$20M in a pre-Series B round led by IndusBridge VenturesDealroom has a profile for this one. Try Dealroom →. Its board approved the issue of 1,573 convertible preference shares, priced at US$12.7K each, according to a filing with the Registrar of Companies.
Who put in what: IndusBridge Ventures committed US$8.15M, the largest cheque. The government-backed Antariksh Venture Capital Fund followed with US$6.37M, Blue Ashva Sampada Fund with US$2.47M, and PVS Raju with US$1.36M. Payments from Blue Ashva and Akshat Greentech had not yet arrived, so the round is approved on paper with part of the cash still to land.
What the money builds: The funds will go toward developing and launching communication, earth observation, and remote sensing satellites, plus working capital and infrastructure. Dhruva Space is a full-stack firm building satellite platforms, deployers, and ground stations for civil and defence customers in India and abroad. The round values it at roughly US$298.8M, or about $230 million.
The financials: Operating revenue rose nearly eightfold to US$10.7M in the year to March 2026, up from US$1.36M. Losses widened to US$6.33M, and the company says its order book had crossed US$67.9M.
Why now? This is the latest tranche in a round that has been building all year; an earlier US$7.03M closed in December 2025, and Antariksh invested US$8.15M in July 2026 — its first ever deal. "We are honoured to become the first investee of the Antariksh Venture Capital Fund," said co-founder and chief financial officer Chaitanya Dora Surapureddy.
The signal: The raise fits a shift in Indian spacetech toward larger growth rounds, with sector funding hitting a record $200 million in 2025, Skyroot raising $50 million, and Pixxel securing $100 million. Government-backed capital is now a prominent force, as Antariksh's participation shows. The test ahead is converting a swelling order book into profitable delivery.
Read more: keevurds.com
Image credit: NASA Goddard Photo and Video
