Bengaluru-based space technology startup Digantara today announced it has raised US$2.5 million in a seed funding round led by early-stage and technology-focused venture capital firm Kalaari Capital.
Founded in 2018 by Anirudh N Sharma, Rahul Rawat, and Tanveer Ahmed, Digantara is currently working on active surveillance technology-based solutions to provide precise orbital insights to ensure continued safe space operations.
According to the statement, The SID- IISc-incubated startup will use the seed funding to accelerate its product development and launch its first satellite (technology demonstration mission) to LEO. It is aiming to strengthen its efforts in making space operations safer and increasing orbital sustainability.
Speaking on the development, Anirudh Sharma, CEO of Digantara, said:
“In the dawn of the new space era, space safety and sustainability is a major concern to the proliferated LEO Ecosystem. Just like the aviation sector, space inevitably requires an efficient traffic management system. We are elated to be supported by Kalaari Capital and to partner with Mr. Ravinder Singh and the team, for expressing affirm confidence in Digantara, and joining us in the journey of building a global space company, he said in a statement.
Earlier, Digantara had received Rs 50 lakh in grant after winning at ISRO ARISE ANIC – Category 3 Space Robotics/VR/AR/Outer Space Monitoring program. Last week, The startup won OneWeb’s 2021 Innovation Challenge under the Academic and Research Category. As part of the winning, Digantara will work with OneWeb on an unspecified research and development project.
Commenting on the investment, Ravinder Pal Singh, Partner at Kalaari Capital said that Digantara’s offerings will help solve problems related to space debris and also provide infrastructural support to commercial space missions.