Dhruva Space Success Story: Flight from 5 crores to 898 crores, 4 youths shine India’s name in space

New Delhi. Indian Startups Pixel and Dhruv Space have launched satellite via Allen Musk’s SpaceX Falcon 9 rockets. The launch took place on the morning of 27 August. Bangalore -based Pixel launched its three new firefly hyperpactral satellites. At the same time, Dhruv Space of Hyderabad under its first commercial mission, installed the payload of Australian companies Akula Tech and Asper Sats into the satellite and sent it into space. Dhruv has sent Akula Tech’s Nexus-01 AI module into space, designed for onboard data processing and real-time geospatial analytics. Apart from this, OTR-2 hyperpactral image of asper satellites is also in it which will capture the spectral-rich observation data of the earth.

Dhruv Space was founded in Hyderabad in 2012 by Sanjay Nekkti, Krishna Teja Penkamuru, Abhay Egor and Chaitanya Dora Supurdedi. This startup creates satellite infrastructure and ground stations. This startup produces satellite platforms that can be launched with any rocket, can be equipped with any payload and operated from any ground station in the world.

In 2021, the company won the Qualcomm in India Challenge and created a connectivity device called “Bolt”. In the year 2022, the company was placed in its ’40 Under 40 ‘list by Festival India. This salary got a license for space activity as a private company before IN-Space. The company has also successfully conducted a successful test of satellite orbital deployment on ISRO’s PSLV-C53 mission.

898 crore is valuration

By August 2024, the Dhruv space was estimated at Rs 898 crore. Now the launch of its first commercial mission is likely to increase the valuation of the company and customers. The company is installing 280,000 square feet of new factory in Hyderabad, including the spacecraft assembly line. This factory will be ready this year.

Among the four founders of Dhruv space, Sanjay Srikanth Nekkanti is holding the responsibility of CEO. He has previously worked in Excde Space AIIMS AG, Cisco and KPMG JESE. Srikanth has studied BITS Pilani, SRM Institute of Science and Technology, EMLYON Business School, Lulia University of Technology and Arizona State University.

Abhay Igur is the Chief Technology Officer. Krishna Teja is part of the Penkamuru Founder and Board of Directors. Chaitanya Dora is the Chief Financial Officer of Surapurdi Company.