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Naman Finance, SIDBI invest in spacetech startup Digantara

EntrackrEntrackr · 1y ago
Naman Finance, SIDBI invest in spacetech startup Digantara
Medial

Spacetech startup Digantara has raised Rs 15.54 crore or $1.88 million in an extended Series A funding led by Naman Finance And Investment Private Limited (NFAI) with the participation of SIDBI Venture Capital. The board at Digantara has passed special resolutions to issue 20 equity shares and 622 Series A1 compulsory convertible preference shares (CCPS) at an issue price of Rs 2,42,122 per share to raise Rs 15.54 crore, as per the company’s regulatory filings with the Registrar of Companies. NFAI led the round with a Rs 8.3 crore investment, while SIDBI Venture Capital poured in the remaining amount. As per startup intelligence platform TheKredible, Digantara has been valued at around Rs 590 crore or $71 million (post-money), which is roughly 2X of the valuation from the previous funding round. Post-allotment of the round, NFAI acquired a 1.41% stake in the company while SIDBI Venture Capital holds 1.23% shares. For more details, visit here. To date, Digantara has raised $14.4 million in funding across three rounds. In June 2023, it raised $10 million in a series A1 round led by Peak XV Partners (formerly Sequoia Capital India) and Kalaari Capital. Founded in December 2018, Digantara is a space situational awareness company focused on enabling safe and sustainable space operations. It is building an infrastructure powered by a multi-modal data pool to support stakeholders across the value chain with accurate datasets and precise determination of orbital insights. According to the company, inadequate tracking capabilities of objects in Earth’s orbit have left 96% of the 1 million objects that are currently in orbit untracked and these objects are large enough to cause damage to spacecraft but small enough to go undetected. Last year, the company expanded to Singapore and also commenced the development of India’s first commercial SSA optical observatory in Uttarakhand. This observatory will play a crucial role in enhancing the nation’s space and SSA capabilities, according to the company. The firm also launched two missions that served as the space weather testbed. For the fiscal year ending March 2023, the spacetech firm recorded Rs 2.37 lakh revenue from operations whereas its losses stood at Rs 3.54 crore. Other startups in the space segment are Agnikul Cosmos, Skyroot Aerospace, Bellatrix, GlaxEye, Dhruva, SatSure, Vesta Space, and InspeCity.

Spacetech startup Digantara raises $50 Mn in Series B round

EntrackrEntrackr · 9d ago
Spacetech startup Digantara raises $50 Mn in Series B round
Medial

Spacetech startup Digantara raises $50 Mn in Series B round Digantara, a space surveillance and intelligence platform, has closed its Series B fundraise of $50 million from a mix of new strategic and financial investors, including 360 ONE Asset, SBI Investments Co Japan, and Ronnie Screwvala, with continued participation from existing investors Peak XV Partners and Kalaari Capital. The fresh capital will support global expansion beyond India and the United States, the establishment of new manufacturing facilities for optical systems and satellite production, and the scaling of R&D teams worldwide. The company also plans to deploy 15 space surveillance satellites and two missile-warning satellites during 2026–27. Founded in December 2018 by Anirudh Sharma, Digantara is a space situational awareness company that develops space- and ground-based infrastructure to support safe and secure space operations. It provides data-driven orbital insights to governments, defence agencies, and commercial stakeholders globally. Its integrated platform, AIRA, combines sensing hardware, data processing, and analytics across space and terrestrial systems to enable surveillance and threat monitoring. The infrastructure includes the SCOT constellation for space surveillance, the ALBATROSS series for missile warning and tracking, and SKYGATE, a network of ground-based sensors. These systems are scheduled for phased deployment through 2026–27. Digantara operates across India, Singapore, and the United States, and plans to expand into Europe by mid-2026 to strengthen its space and defence monitoring capabilities. In February 2024, the Aditya Birla Group and SIDBI Venture Capital acquired minority stakes in Digantara. Prior to this, the company had raised $10 million in a Series A round. According to TheKredible, the company’s shareholding details reflect these investments. Several space-tech startups have raised capital over the past 12 months, including Inspecity, Manastu Space, Sisir Radar, OrbitAid, Pixxel, Ulook, and Akashalabdhi. Other players in the segment include Agnikul Cosmos, Skyroot Aerospace, Bellatrix, GlaxEye, Dhruva, SatSure, and Vesta Space.

Dhruva Space raises $15 Mn in Series A round

EntrackrEntrackr · 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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