Dhurva Space Becomes First Startup to Secure Antariksh Venture Capital Fund Investment

In a significant boost to India's fast-growing private space sector, Hyderabad-based Dhruva Space has become the first company to receive funding under the Antariksh Venture Capital Fund (AVCF) , marking a key milestone in the government's efforts to strengthen the country's commercial space ecosystem.

The company has secured Rs 60 crore from the fund and plans to use the investment to expand its capabilities as a full-stack space engineering company , enhance sovereign spacecraft manufacturing, accelerate product development, and scale critical infrastructure.

The Antariksh Venture Capital Fund , created under the aegis of IN-SPACe , has a corpus of more than Rs 1,000 crore . It is managed by SIDBI Venture Capital Limited , a wholly owned subsidiary of the Small Industries Development Bank of India (SIDBI) . The initiative is designed to provide institutional funding to space-tech startups across different stages of growth, helping them commercialise advanced technologies and expand operations.

Dhruva Space said the fresh capital will strengthen its long-term vision of building indigenous space technologies while supporting India's ambition to become a leading global space power.

Commenting on the development, Chaitanya Dora Surapureddy , co-founder of Dhruva Space, described the investment as a strong endorsement of the company's vision, execution capabilities, and commitment to developing sovereign space capabilities from India . He added that SIDBI Venture's continued support reflects confidence in the company's growth trajectory and its contribution to the country's evolving space ecosystem.

Explaining the significance of the investment, SIDBI Venture Capital Limited Managing Director and CEO Arup Kumar said the first funding decision demonstrates confidence in companies capable of combining innovation, manufacturing, mission execution, and commercial deployment under one integrated framework.

The AVCF is expected to play a transformative role in nurturing India's emerging space startups by improving access to growth capital. As private participation in the space sector accelerates following recent policy reforms, investments such as this are expected to drive technological innovation, strengthen domestic manufacturing, generate high-skilled employment, and enhance India's competitiveness in the global space economy.