Image default

Spacetech Startup Digantara Looks To Raise Series A Round

Digantara, a Bengaluru-based spacetech startup, looks to raise fresh funding in a Series A round over the coming months.

First reported by Mint, citing a top executive, the Bengaluru-based spacetech startup plans to launch a beta version of its space data service by the fourth quarter of this year.

Digantara | New Age Space Cartographers

Co-founded by Anirudh Sharma, Rahul Rawat and Tanveer Ahmed, Digantara is a Bengaluru-based spacetech startup establishing a space-based surveillance platform with global real-time earth coverage. It is safeguarding the future of space operations through comprehensive space situational awareness infrastructure.

The startup works by deploying a constellation of cost-efficient nanosatellites in LEO (Low Earth Orbit) along with precise modelling through an AI-ML based algorithm to provide predictive and robust space-based situational awareness services. 

Anirudh Sharma, Chief executive of Digantara, in an interview after the company launched its second satellite on 3 January, said,

“The $2.5 million seed funding we raised in 2021 provided us with a runway to make at least three satellites, so we are well covered for our next launch. We also plan to announce our Series A round in the coming months.”

Co-founders of Digantara

Specializing in space weather and debris-tracking, Digantara expects to begin a beta version of its space data mapping service by the end of this year after it is done with its intended Series A funding.  

Anirudh stated that Digantara’s commercial services will begin by 2024, for which the startup will need at least eight space weather-sensing satellites in orbits and one ground station – all of which the team plan to build by then.

Digantara’s initial set of launches, including its first launch of an equatorial satellite in June last year and its second satellite that was placed in a sun-synchronous orbit (SSO) yesterday, will only be used for internal space data calibration purposes, added Anirudh.

Anirudh Sharma said,

“Our ‘space situational awareness’ (SSA) data set generated from our satellites will help get a more accurate understanding of weather conditions, trajectories and debris in space, to prevent collisions in an orbit, or have radiation or magnetic forces impact the longevity of a satellite.”

This year, several spacetech startups have raised funds. In December 2022, GalaxEye Space raised $3.5 million in a seed funding round led by deeptech-focused venture capital firm Speciale Invest to increase hiring and accelerate the launch of the world’s first multi-sensor satellite for earth observation. 

Additionally, Skyroot Aerospace raised $4.5 million in a bridge round to Series B funding. In June 2022, Bellatrix Aerospace concluded an $8 million Series A round.

Follow us and connect with us on Instagram, FacebookTwitter, and LinkedIn.

Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Companyregister a companycreate financial projections, business development, LLP Registration, compliance filing, funding formalities, CFO Services, or other startup related legal servicescontact us.

Source link

Related posts

Startup syllabus: how Dal Innovates embraced innovation education in Atlantic Canada

Jason Dudley

No of unicorns drop to 85 in India as valuation erode amid global turmoil

Jason Dudley

JSW Energy net profit falls 45% to ₹180 cr in Q3

Jason Dudley

Deeptech EV Startup Vecmocon Raises $5.2 Million In Funding

Jason Dudley

Indian Agritech Space Can See 8-10 Unicorns In Five Years

Jason Dudley

Ecommerce In India Records INR 76K Cr In Sales, Up 25% YoY

Jason Dudley

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More