Digantara Secures $2 Million Funding in Series A Round Led by Aditya Birla Ventures

• ByStartupStory     |    February 29, 2024

Bangalore-based spacetech startup Digantara has successfully concluded its Series A funding round, raising an additional $2 million from prominent investors, including Aditya Birla Ventures and Sidbi Venture Capital. This investment follows a previous funding round in June 2023, where the company secured $10 million, led by Peak XV Partners.

Digantara, founded in 2018 by Anirudh Sharma, Rahul Rawat, and Tanveer Ahmed, specializes in space situational awareness. The latest capital infusion marks the final close of their Series A stage, bringing the total funding to $12 million.

The company operates the Space-Mission Assurance Platform (Space-MAP), utilizing a multi-modal data pool to provide stakeholders with datasets and orbital insights. This platform aims to enhance the safety and sustainability of space operations by addressing the significant gap in tracking the majority of objects in orbit, with only 4% currently being monitored.

“The global space market is expected to cross $1 trillion by the next decade. We recognize the extraordinary potential for innovation in India and its capacity to become a significant global player in this domain… The investment is in line with our vision to back outstanding founding teams, building businesses of tomorrow,” said Aryaman Vikram Birla, founder of Aditya Birla Ventures.

Digantara has also unveiled STARS (Space Threat Assessment and Response Suite), a proprietary military and defense suite designed to strengthen national sovereign space capabilities. Currently in beta service with select government agencies in Singapore, the United Kingdom, Australia, and India, STARS aims to contribute to the global efforts in securing space assets.

Anirudh Sharma, CEO of Digantara, expressed his gratitude, stating, “It’s heartening to witness this level of support, particularly when a leading global conglomerate like the Aditya Birla Group, and important financial institutions like Sidbi, backed by the Government of India, for the first time, invest in the space sector.”

Digantara plans to use the funds to expand its global footprint, targeting the US, UK, and European Union. Additionally, in 2025, the company aims to launch two space-based SSA (space situational awareness) sensors and operationalize two observatories in India, further solidifying its commitment to advancing space innovation on a global scale.

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