India, July 13 -- Spacetech startup Dhruva Space has netted Rs.60 Cr ($6.3 Mn) in funding from IN-SPACe's recently commissioned VC fund Antariksh Venture Capital Fund (AVCF).

The fresh investment in the spacetech startup is part of its ongoing pre-Series B funding round which stands at Rs.275 Cr raised to date, comprising Rs.150 Cr in equity and Rs.125 Cr in debt financing.

The investment marks the maiden deployment from the SIDBI-managed Rs.1,600 Cr Antariksh Venture Capital Fund (AVCF), a dedicated spacetech fund anchored by a Rs.1,000 Cr commitment from IN-SPACe, India's space sector regulator and promoter.

Launched to catalyse private investment in the country's space ecosystem, the Category II AIF is targeting a total corpus of Rs...