Dhurva Space receives Rs 60 crore under Antariksh Venture Capital Fund

New Delhi, Jul 13 (PTI) Hyderabad-based Dhurva Space has become the first company to receive investment under the Antariksh Venture Capital Fund (AVCF), India’s venture capital fund dedicated to the space sector. The fund, with a corpus of more than Rs 1,000 crore, has been established under the aegis of IN-SPACe and is managed by SIDBI Venture Capital Limited, a wholly owned subsidiary of the Small Industries Development Bank of India (SIDBI). Dhurva Space has received Rs 60 crore in investment, which it aims to use for continued expansion as a full-stack space engineering company, strengthening sovereign spacecraft manufacturing capabilities, accelerating product development, and scaling infrastructure, the company said on Monday. In a statement, Chaitanya Dora Surapureddy, co-founder of Dhruva Space, said, “ This investment is a strong endorsement of Dhruva Space's vision, execution, and long-term commitment to building sovereign Space capabilities from India.” “The continued support from SIDBI Venture reflects a steadfast belief in Dhruva Space's capabilities, growth trajectory, and contribution to India's evolving Space ecosystem,” he added. The AVCF aims to provide institutional capital to space-tech start-ups at various stages of development, supporting the scaling of operations and the commercialisation of new technologies. Arup Kumar, managing director and CEO of SIDBI Venture Capital Limited, said in a statement, “Our first investment reflects a strong belief that the next generation of space leaders will be built by companies that can integrate innovation, manufacturing, mission execution, and commercial deployment under one roof.” PTI ALC KSI KSI