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Dhruva Space lines up Rs 147 Cr pre-Series B led by IndusBridge Ventures as FY26 revenue jumps nearly 8x
The Hyderabad spacetech company's board has approved a preference share issue to IndusBridge, the government backed Antariksh Venture Capital Fund and others, to build communication and earth observation satellites.
Hyderabad based Dhruva Space is raising Rs 147 crore, about $15.5 million, in a pre-Series B round led by IndusBridge Ventures, according to a Registrar of Companies filing reported by Entrackr and Venture Intelligence on 12 November. The board has approved issuing 1,573 compulsorily convertible preference shares at Rs 9,34,429.47 each.
IndusBridge Ventures Fund is putting in Rs 60 crore. The Antariksh Venture Capital Fund, the government backed spacetech fund anchored by space regulator IN-SPACe and managed by SIDBI Venture Capital, is adding Rs 46.9 crore to raise its stake. Blue Ashva Sampada Fund has committed Rs 18.22 crore and PVS Raju Rs 10 crore, with four other investors making up the rest. Entrackr notes that the money from Blue Ashva Sampada Fund and Akshat Greentech had not yet been received at the time of the filing, and estimates the post-money valuation at around Rs 2,200 crore.
The round builds on an earlier step. In July 2026 the Antariksh fund made its very first investment, Rs 60 crore, in Dhruva Space, which Inc42 and BusinessLine reported as part of a pre-Series B round that had then reached Rs 275 crore including debt. BusinessLine quoted the company as saying its order book was above Rs 500 crore.
Dhruva Space, founded by Sanjay Nekkanti, Chaitanya Dora, Krishna Teja Penamakuru and Abhay Egoor, runs a full stack space business: it builds satellites, handles launch integration and runs ground stations for commercial, government and defence customers, and sells access to space based data and imagery. The filing says the new money will go into developing and launching communication, earth observation and remote sensing satellites, plus working capital and infrastructure.
The numbers show a company scaling fast but still spending heavily. Operating revenue rose nearly eightfold to Rs 79 crore in FY26 from Rs 10 crore a year earlier, while losses widened 21% to Rs 46.6 crore, Entrackr reports. After the allotment the promoters will hold 40.74%. What to watch: whether the large order book turns into delivered satellites on schedule, the real test for India's private space makers.
