Dhruva Space seeks $50 million for new radar satellite project
Dhruva Space is looking to raise up to $50 million in a new round of funding.
With $10.2 million already secured from existing backers, fundraising is underway and the company says proceeds would support a new radar satellite project aimed at defense and commercial use.
They've raised $21.4 million so far
Dhruva Space has raised a total of $21.4 million so far.
They pulled in $6 million last November from investors like Aditum Venture Capital Fund and Hyderabad Angel Fund, followed by another $4.2 million in February from IAN Alpha Fund, GVFL, Blue Ashva Capital, and Pradeep Sinha.
Plans to build a SAR satellite constellation
The team builds satellites and launch services end-to-end.
Their Polar Access-1 mission with ISRO didn't go as planned this January—four satellites didn't make it to space—but they're bouncing back with plans for a Synthetic Aperture Radar (SAR) constellation that can deliver 24/7 all-weather imaging for both defense and business needs, though no delivery timeline has been reported.