Peak XV Partners, Kalaari Capital led $10 M Series A1 funding raised by Digantara
A company called Digantara, based in India, said that it had raised $10 million in a Series A1 funding round to advance the development of its ground-breaking Space-Mission Assurance Platform (Space-MAP).
According to a statement from Digantara, the round was led by Peak XV Partners (formerly Sequoia Capital India), with participation from Kalaari Capital
According to the company, Global Brain, a venture capital firm with offices in Japan, Campus Fund, and the creators of IIFL Wealth are also participating in this round.
Additionally, in 2021, Kalaari Capital contributed $2.5 million to the company’s seed round.
The new capital infusion, per the statement, will enable Digantara to launch the first set of its constellation of space-based surveillance satellites.
With the additional funding, the business will be able to develop its downstream SSA services more quickly and offer them fully by the second quarter of 2024.
According to Digantara, there are currently 1 million objects in orbit, 96% of which are untracked due to insufficient tracking capabilities. These objects are big enough to harm spacecraft but small enough to go undetected.
It stated that there is an urgent need for an infrastructure layer that enables safer space operations because space is becoming more crowded and contested.
Digantara stated that it intends to create a comprehensive infrastructure powered by its multi-modal data pool to enable sustainable and safer space operations.
“We will invest heavily in launching our space tech infrastructure to track previously unobservable objects and significantly increase data points,” said Anirudh Sharma, Co-Founder and Chief Executive Officer of Digantara.
He asserts that doing so will provide stakeholders with thorough insights for effective decision-making in a complex space environment.
“We are immensely grateful to have the support and unwavering belief of world-class investors who share our vision,
“Their backing is a testament to the transformative potential of our mission to make space sustainable,” he added.
Digantara has established itself as a preeminent international space company over the years. Singapore has recently joined the expansion.
In Uttarakhand, Digantara has started construction on the nation’s first commercial SSA optical observatory as part of its infrastructure-building efforts.
The nation’s space and SSA capabilities will be significantly improved by this observatory.
The company most recently launched two missions that were used as a testbed for space weather.
