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Dhruva Space raises $15 Mn in Series A round

EntrackrEntrackr ยท 1y ago
Dhruva Space raises $15 Mn in Series A round
Medial

Space tech startup Dhruva Space has raised $15 million (Rs 123 crore approximately) in its Series A round from Indian Angel Network Alpha Fund and Blue Ashva Capital, as well as Silverneedle Ventures, BIG Global Investment JSC (BITEXCO Group) IvyCap Ventures, Mumbai Angels, and Blume Founders Fund. The fundraise also includes a Rs 10 crore venture debt from Small Industries Development Bank of India (SIDBI) and a Rs 14 crore venture debt from Technology Development Board. The proceeds will be used for upcoming spacecraft manufacturing facilities, strategic business acquisitions, and enhancing product offerings, the company said in a press release. Founded by Sanjay Nekkanti and Chaitanya Dora, Dhruva Space has launched as many as eight payloads in the last 24 months, including the Thybolt satellites mission in November 2022 and the LEAP-TD mission on 01 January 2024. The Hyderabad-based startup is active across space, launch, and ground segments, and supports civilian and defence clients worldwide. It offers satellites teamed with Earth Station/s and Launch Services as an integrated solution or individually as technology solutions to power space-based applications on Earth and beyond. Over the past few years, several space tech startups such as Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara and InspeCity have managed to raise decent funding. In June last year, spacetech startup Digantara raised $10 million in Series A1 funding led by Peak XV Partners (formerly Sequoia Capital India) and Kalaari Capital. In the same month, Pixxel scooped up $36 million in a series B funding round from new investors such as Google.

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Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn

EntrackrEntrackr ยท 13d ago
Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn
Medial

Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn Space-tech startup Dhruva Space is raising Rs 51.76 crore ($6 million) in a pre-Series B round led by AVCF1 (Aditum Venture Capital Fund), with participation from 33 other investors. According to the companyโ€™s regulatory filings, the board has cleared a special resolution to issue 1 equity share and 553 pre-Series B preference shares at Rs 9,34,429 per share, aggregating to the total fundraise. AVCF1 will anchor the round with Rs 26.16 crore, while Aranya Holding Ventures LLP will contribute Rs 10 crore. The rest of the capital will come from Hyderabad Angel Fund, AR Enterprises, Ativira Technologies, and a clutch of other angel investors. As per Entrackrโ€™s estimates, Dhruva Spaceโ€™s post-money valuation stands at around $215 million after the round. With this, the Hyderabad-based company has raised over $22 million to date, including its $15 million Series A backed by Indian Angel Network Alpha Fund, Blue Ashva Capital, Silverneedle Ventures, BITEXCO Group, IvyCap Ventures, Mumbai Angels, and the Blume Founders Fund. Founded by Sanjay Nekkanti and Chaitanya Dora, Dhruva Space has launched eight payloads over the past 24 months, including the Thybolt satellites in November 2022 and the LEAP-TD mission on January 1, 2024. The company operates across the space, launch, and ground segments, offering satellites, earth stations, and launch services. Indiaโ€™s private space-tech ecosystem has been on a steady funding upswing, with startups such as Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Vesta Space, Digantara and InspeCity drawing investor interest. Dhruva Spaceโ€™s latest round adds to this momentum as the sector continues to expand its capabilities and global relevance.

Ultrahuman Raises $35 Mn To Boost Research In Health Monitoring

Inc42Inc42 ยท 1y ago
Ultrahuman Raises $35 Mn To Boost Research In Health Monitoring
Medial

Bengaluru-based fitness and healthtech platform, Ultrahuman, has raised $35 million in a mix of debt and equity funding in a Series B round. The funding round included participation from investors such as Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave, and Zomato founder Deepinder Goyal. Ultrahuman plans to use the funds to expand its manufacturing capacity and conduct further research in the health tracking space. The startup offers health tracking and monitoring devices, including fitness rings, and aims to become the market leader in the smart rings space. Ultrahuman also provides a subscription-based fitness platform for better data monitoring and offers a range of workout content.

Spacetech startup SatSure raises $15 Mn in Series A funding

EntrackrEntrackr ยท 2y ago
Spacetech startup SatSure raises $15 Mn in Series A funding
Medial

SatSure, a satellite Earth observation data and analytics provider, has secured $15 million in a Series A round led by Baring Private Equity Partners (BPEP) and Promus Ventures, with participation from Omidyar Network India and xto10X, alongside existing investors. The funding will support the launch of four high-resolution satellites by Q4 2025 and expand the company's presence in the US and Asia-Pacific regions. SatSure leverages satellite imagery and AI to provide decision intelligence for industries like agriculture and banking, aiming to enhance profitability and operational efficiency. The funding follows a $5 million pre-Series A round in February 2022 and strategic funding from ICICI and Kotak Mahindra Bank.

Drone startup Aereo raises $15 Mn in Series B

EntrackrEntrackr ยท 1y ago
Drone startup Aereo raises $15 Mn in Series B
Medial

Commercial drone solutions startup Aereo has secured $15 million in a Series B funding round led by 360 ONE Asset. The round also witnessed participation from its existing investors StartupXseed Ventures and Navam Capital. The company had previously raised $6.44 million at post money valuation of $25.5 million from GrowX Ventures, Startupxseed Ventures, Anicut Capital and others. The fresh funds will be used to expand its aerial intelligence solutions for capital asset management, Aereo said in a press release. Co-founded in 2013 by Vipul Singh and Suhas Banshiwala, Aereo serves in the B2B space in the high tech, aerospace, maritime and defense tech market segments. According to Aereo, it has been a partner for Coal India Limitedโ€™s Digicoal initiative, and provides critical business intelligence for some of the worldโ€™s largest coal mines for improving productivity. It has also been collaborating with Tata Steel since 2019, aiding the digitalisation of over 27 critical mines and stockyards. The Bengaluru-based company claims that it has mapped over 45,000 villages under the SVAMITVA scheme and covered more than 50,000 sq. km of land area for the Digital India Land Record Modernization Program (DILRMP). The other notable players in this space are Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, Dhaksha Unmanned Systems and others.

Electric Vehicle financing firm Mufin Green raises $5 Mn

EntrackrEntrackr ยท 1y ago
Electric Vehicle financing firm Mufin Green raises $5 Mn
Medial

Electric vehicle financing platform Mufin Green Finance has raised $5 million in a debt funding round led by BlueOrchard. Last month, Mufin raised Rs 140 crore (approximately $17 million) in a Series B round of equity funding, on top of Rs 530 crore raised in debt funding, last financial year. The funds will be utilised to propel its initiatives in the green and energy space, driving innovation, and facilitating sustainable development, Mufin said in a press release. Founded in 2016 by Kapil Garg, Mufin Green Finance provides financing options for EVs across two, three and four-wheelers. With a presence in 16 states across India, it has financed EVs worth over Rs 350 crore to date. Mufin claims to have recorded a 12-fold growth in just two years. The AUM for Mufin Green Finance stood at Rs 502 crore as of December 2023 and the company is expecting to close FY24 with an AUM of Rs 650-700 crore. In the electric vehicle financing space, Muffin competes with Revfin, Finayo, Vidyut, OTO, evfin, and Hero FinCorp, among others. Recently, Revfin raised $14 million in a Series B round led by Omidyar Network.

Aereo raises $1.8 Mn more in Series B

EntrackrEntrackr ยท 1y ago
Aereo raises $1.8 Mn more in Series B
Medial

Aerial intelligence platform Aereo has picked up $1.8 million as part of its Series B funding round led by JSW Ventures. Aereo had previously secured $15 million in the same funding round led by 360 ONE Asset along with participation from its existing investors StartupXseed Ventures and Navam Capital in July this year. The fresh funds will be utilized to strengthen its position in providing innovative commercial drone solutions and accelerating its growth into international markets, Aereo said in a press release. Co-founded in 2013 by Vipul Singh and Suhas Banshiwala, Aereo leverages advanced drone technology and AI-driven data analytics to enhance asset management in sectors such as mining, infrastructure, urban and rural development, and land records. The companyโ€™s comprehensive offerings include inventory assessments, quality inspections, and land record digitization. The Bengaluru-based company claims to have executed large-scale government projects, mapping over 45,000 villages under the SVAMITVA scheme and covering more than 50,000 square kilometers for the Digital India Land Record Modernization Program (DILRMP). It also claims to have achieved profitability at the EBITDA level. Aereo focuses on intellectual property, with 15 patents filed that cover advancements in drone hardware, design, and predictive flight planning technologies. It may directly or indirectly compete with the other companies in this space such as Skylark Drones, IdeaForge, Garuda Aerospace, DroneAcharya Aerial, Dhaksha Unmanned Systems and others.

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