Indian Space Startup Digantara Raises $10 Million in a Round Lead by Peak XV Partners

By: Asia Business Outlook Team | Wednesday, 21 June 2023

Digantara, an Indian space tech business focused on space situational awareness, has raised $10 million in a funding round headed by Peak XV Partners (previously Sequoia Capital India and Southeast Asia) to begin commercial space operations and satellite traffic management. This is notable as the renowned investor's first investment in space technology.

Kalaari Capital, the startup's current investor, participated in the all-equity Series A1 investment round. It also welcomed Global Brain, Campus Fund, and the founders of IIFL Wealth to its cap table. To date, the four-year-old firm has secured $12.5 million, including a $2.5 million seed round from Kalaari Capital in 2021.

Space has evolved into an enthralling arena, attracting the attention of governments, public entities such as NASA, the European Space Agency (ESA), and numerous commercial firms all over the world. However, as more participants enter the space sector, there is rising concern about potentially dangerous debris and items that can damage spacecraft. These particles are frequently too small to detect, posing a serious threat to the success of space missions. Digantara is working to tackle this problem with its infrastructure, which is supported by a constellation of satellites and software.

Founded in December 2018 by Indian engineers Anirudh Sharma, Rahul Rawat and Tanveer Ahmed, the Bengaluru-based startup is developing an end-to-end solution called “Space-Mission Assurance Platform” or “Space-MAP” to address the difficulties of space operations and situational awareness. This will use data from different sources, including the startup’s own satellites and commercial satellite operators as well as government agencies and private companies.