Dhruva Space, the Hyderabad-based pioneer in small satellite systems and space services, is set to ignite its pre-Series B funding round with a $6 million (~₹50 crore) commitment from a consortium of investors, sources close to the deal confirmed. This tranche, kicking off in December 2025, marks the company’s aggressive push toward a full Series B close of $20-25 million by Q2 2026, valuing Dhruva at ~$150 million pre-money.
Founded in 2012 by Sanjay Nekkanti (CEO) and Srinivas Jonnalagadda (CTO), Dhruva has evolved from a bootstrapped space tech outfit into India’s go-to provider for end-to-end satellite solutions. Their portfolio spans satellite design, manufacturing, launch integration, and on-orbit operations – including the Dhruva Constellation for Earth observation and communications. Key milestones: Launching India’s first private satellite (DhruvaSAT-1) in 2020 via ISRO, securing contracts with global players like Airbus and Thales, and partnering with NASA for lunar payloads.
The $6 Mn lead comes from a mix of strategic investors: Tata Capital (extending their 2023 seed bridge), Chiratae Ventures (early backers since Series A), and a new entrant – Reliance Jio’s strategic fund eyeing space comms synergies. “We’re at the cusp of commercializing our full-stack ecosystem,” Sanjay Nekkanti told ET. “This capital will fast-track our constellation deployment and global client wins.”
Dhruva’s FY25 revenue hit ₹120 crore (up 150% YoY), driven by 12 satellite contracts and ground station ops. Losses narrowed to ₹45 crore from ₹80 crore in FY24, thanks to high-margin payloads and ISRO subsidies. With 200+ employees and a 50,000 sq ft facility in Hyderabad, the company boasts 99% mission success rate and export revenues from Europe/Asia.
Fresh funds allocation:
- Satellite Constellation: Accelerate Dhruva-2 cluster (10+ microsats for EO/comms) launches via SpaceX/NSIL.
- R&D Boost: AI for autonomous ops and reusable tech.
- Global Footprint: New offices in US/UK, targeting $500 Mn pipeline in defense/civil space.
This raise follows Dhruva’s 2024 Series A ($10 Mn from Chiratae) and bridges the funding winter gap. Space sector tailwinds: India’s $8 Bn market by 2030, ISRO’s privatization push, and global boom (Starlink, Amazon Kuiper). Dhruva competes with Pixxel/Pi but differentiates via full vertical integration – from chip fab to data analytics.
Analysts see unicorn potential: “Dhruva is India’s SpaceX-lite,” says a VC at Chiratae. “With $6 Mn starter, they’re primed for mega-rounds.” Watch for Q1 2026 announcements – more launches, partnerships, and perhaps a strategic IPO filing.
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Last Updated on Friday, December 5, 2025 4:12 pm by Entrepreneur Edge Team https://entrepreneuredge.in/
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