29 February 2024 – Digantara, a Space Situational Awareness (SSA) startup based in Bengaluru, has successfully closed an extended $2 million financing round following its earlier $10 million Series A funding. The new investment round attracted participation from notable investors, including Aditya Birla Ventures, the venture capital arm of the Aditya Birla Group, and the Small Industries Development Bank of India (SIDBI). This marks a significant milestone as both investors enter the space technology sector for the first time, underscoring their commitment to Digantara’s vision of enhancing safe and sustainable space operations.
About Digantara:
Founded with a vision to enable safe and sustainable space operations, Digantara is a key player in the evolving space technology sector. CEO Anirudh Sharma emphasizes the importance of building robust space infrastructure, especially with Prime Minister Narendra Modi’s recent goal to launch an Indian space station by 2035. Digantara’s Space-Mission Assurance Platform (Space-MAP) aims to address gaps in space tracking, ensuring enhanced space safety with comprehensive data and precise orbital insights.
Funding and Investor Commitment:
The additional $2 million funding round saw participation from Aditya Birla Ventures and SIDBI, both entering the space technology sector for the first time. Aryaman Vikram Birla, founder of Aditya Birla Ventures, expressed belief in Digantara’s ability to develop advanced SSA solutions globally. The investment aligns with the vision to support outstanding teams shaping the businesses of the future. SIDBI CMD S Ramann emphasized their delight in supporting Digantara, considering it a pioneer in space domain awareness that contributes to India’s global prominence in space technology.
With the latest funding infusion, Digantara plans overseas expansion into the US, UK, and European Union. The company is committed to launching two space-based sensors and two observatories in India this year, reinforcing its dedication to advancing space safety. Digantara’s proprietary defense product, STARS (Space Threat Assessment & Response Suite), currently in beta use by agencies in Singapore, the UK, Australia, and India, sets a new standard in tailored space situational offerings for the defense sector.
Conclusion:
Digantara’s successful funding round and strategic partnerships with new investors mark a significant chapter in the company’s journey. Digantara’s global expansion plans and the development of innovative products like STARS position it as a key contributor to India’s growing prominence in the global space technology landscape as it continues to enhance space safety through advanced SSA solutions. The funding supports the company’s immediate objectives and underscores the industry’s recognition of the pivotal role Digantara plays in shaping the future of space operations.
