IAN Fund

In this feature of StartupJourneys@IAN, we talk about an IAN Group portfolio company that has accomplished a record for  – Dhruva Space, a National Award-winning company focused on building full-stack space engineering solutions. Founded in 2012, Dhruva Space is the brainchild of Sanjay Nekkanti, Chaitanya Dora, Abhay Egoor, and Krishna Teja Penamakuru. Over the past 2 years, it has successfully launched 4 Space missions, launching 8 of the 24 payloads authorised by IN-SPACe, the regulatory body for private Space activity in India. In 2012, the Indian Space market presented a daunting challenge for entrepreneurs. Despite obstacles, Sanjay Nekkanti, having contributed to early initiatives like the SRMSAT project, believed in the industry’s potential. His involvement in launching SRMSAT aboard the PSLV-C18 in 2011 fueled his passion for space. Having pursued a dual master’s in space engineering, Sanjay had a vision of elevating India to a global satellite hub. Finally, in 2012, he established Dhruva Space. In 2018, long-time friends Chaitanya Dora Surapureddy, Abhay Egoor, and Krishna Teja Penamakuru joined Sanjay Nekkanti as co-founders. In 2022, Dhruva Space was one of the first private companies to get the green light from IN-SPACe for space activity. Currently, Dhruva Space is gearing up to set up the first phase of a massive 2.8 lakh sq-ft spacecraft manufacturing facility in Hyderabad. The facility will be used for large-scale design, engineering, assembly, integration, and testing of the company’s various products. IAN Group has been a stalwart supporter of Dhruva Space since 2021, when IAN Fund I invested in the company. In 2024, IAN Group strengthened its commitment, with IAN Alpha Fund powering Dhruva Space’s Series A2 round. As Dhruva Space continues to shoot for the stars, IAN Group looks forward to propelling Dhruva Space’s journey.  Indian Angel Network #StartupJourneysAtIAN #DhruvaSpace #IANGroup #IANGroupPortfolioCompany #Spacetech

IAN Alpha Fund, the 2nd VC fund of Indian Angel Network Group, makes its debut investment through Dhruva Space! The IAN Alpha Fund has made its first investment in Dhruva Space, a full-stack space technology company that has been honoured with a National Award. Dhruva Space has secured a cosmic $9.4 Mn from IAN Alpha Fund, Technology Development Board, and other existing investors. The infusion of capital will permit the Hyderabad-based startup to establish the initial phase of its 2.8 lakh sq ft spacecraft manufacturing facility within the city.  Padmaja Ruparel, Co-Founder, Indian Angel Network Group, and Senior Managing Partner, IAN Alpha Fund, commended “Dhruva Space's stellar team of founders for their resilience and capital-efficient approach to building innovative products in one of the most challenging sectors." Read more: https://lnkd.in/d_n4pJ4J Sanjay Nekkanti Priyank Garg Sarika Saxena #Fundraise #IANAlphaFund #DhruvaSpace #IANPortfolioCompany 

We are thrilled to announce that the IAN Alpha Fund, the second VC Fund of the Indian Angel Network Group, has commenced its investment journey. Its recent investment in Dhruva Space, a National Award-winning full-stack space-tech company, marks a significant milestone for both parties. Dhruva Space has successfully raised Rs. 123 crores in funding, propelling it to the forefront of the space tech sector. With a track record of four successful missions with ISRO and a growing clientele, Dhruva Space is poised for remarkable growth and success. Padmaja Ruparel, Co-Founder of the Indian Angel Network Group and Senior Managing Partner at IAN Alpha Fund, commended Dhruva Space's exceptional team for their resilience and innovative approach. She expressed confidence in Dhruva Space's potential to establish itself as a key player in the global space tech industry. This investment underscores IAN's commitment to supporting high-quality companies like Dhruva Space and empowering them to drive growth and innovation in their respective industries. Priyank Garg Sarika Saxena Sanjay Nekkanti #Fundraise #IANAlphaFund #DhruvaSpace #IANPortfolioCompany 

Indian Angel Network Group is delighted to be supporting Dhruva Space's celestial achievements! IAN Alpha Fund is particularly focused on supporting dynamic, determined, and innovative ventures that are blazing a trail in various industries, and Dhruva Space supremely embodies all these qualities. The spacetech pioneer has completed 4 space missions over the past 2 years, launching 8 of the 24 payloads authorised by the government’s IN-SPACe in the last 24 months. Dhruva Space has also been playing a cosmic role on the global stage, with partnerships stretching from CNES to Kinéis, from Comat to the Swedish Space Corporation, and even with an Australian company for the LEAP-1. The fresh infusion of funding will be channelled towards strategic business acquisitions and product offerings for global market deployment. Congratulations to the entire Dhruva Space team! Padmaja Ruparel Priyank Garg Sarika Saxena Sanjay Nekkanti #Fundraise #IANAlphaFund #DhruvaSpace #IANPortfolioCompany 

IAN Alpha Fund has made its maiden investment in Dhruva Space, an Indian Angel Network Fund portfolio company, boosting its total funding to ₹123 Cr. With these funds, Dhruva Space is gearing up to ramp up spacecraft manufacturing and testing capabilities. “The partnership between IAN and Dhruva Space underscores our commitment to supporting cutting-edge startups in emerging sectors, and we are confident that Dhruva Space will continue to thrive and make significant strides in the space-tech industry,” said Padmaja Ruparel, Co-Founder, Indian Angel Network Group, and Senior Managing Partner, IAN Alpha Fund. The company is about to launch customer missions with satellite buses like P-30 and P-90, ready to carve out its place as a cosmic heavyweight in the global space industry. Read more: https://lnkd.in/ds3VbHpH Priyank Garg Sarika Saxena Sanjay Nekkanti #Fundraise #IANAlphaFund #DhruvaSpace #IANPortfolioCompany 

Amrit-Kal for UP Startups: Rise of Noida as preferential startup destination ============================ It was an absolute honor to moderate a panel of visionaries at Startup Mahakumbh, delving into the emergence of Noida as a pivotal player in India's startup ecosystem. Alongside luminaries like Shri Anil Sagar IAS Principal Secretary Department of IT & Electronics, Rahul Garg Founder and CEO Moglix Mr. Rajnish Kapur, Indian Angels Network (IAN Fund Mr. Vivek Shrivastav Founder and CEO HCAH, and Mr. Gautam Kumar Founder and CEO FarEye we charted the course for Noida's journey towards becoming the next Silicon Valley. #StartupMahakumbh, a groundbreaking event uniting the entire startup community, showcases the remarkable innovation and entrepreneurial spirit thriving across India. As we convened at Bharat Mandapam, New Delhi, the dialogue centered around #Noida's trajectory and its potential to rival global tech hubs. Drawing parallels between California's Silicon Valley and Uttar Pradesh, particularly Noida, the panel illuminated the path towards Noida's ascension as a tech powerhouse. Discussions underscored the city's evolving ecosystem and infrastructure, poised to accommodate rapid expansion and innovation. Mr. Rajnish Kanpur aptly noted, "If you’re a startup operating in the hardware & manufacturing spaces, then Noida gives the infrastructure to expand your business." Indeed, Noida offers a conducive environment for startups, boasting a robust talent pool and streamlined infrastructure. Our conversation at Startup Mahakumbh painted a compelling picture of Noida's allure for startups. With well-integrated transport systems and organized clusters, Noida emerges as the premier destination for budding entrepreneurs. The stage is set for Noida to lead the charge in India's startup revolution. As we embrace the central theme of 'Bharat Innovates,' let's rally behind Noida's journey and celebrate the ingenuity flourishing within our nation. Together, let's propel Noida towards unprecedented heights and cement its status as a global tech hub.

Exciting news! Indian Angel Network doubles down on its partnership with Noccarc, a leading medical devices startup from the IAN Fund I portfolio. Indian Angel Network's headlining of Noccarc's latest $2M funding round marks IAN's 3rd investment in this innovative venture. Commenting on the fundraise, Padmaja Ruparel, Co-Founder of Indian Angel Network, highlighted Noccarc's disruptive healthcare innovations, emphasising the startup's efforts to scale its smart ICU-focused devices for wider impact. Nikhil Kurele Harshit Rathore #Fundraise #FundingAlert #IAN #Noccarc #Innovation

Indian Angel Network has led a $2M funding round for the medical devices startup Noccarc, an existing Indian Angel Network portfolio company. With a robust R&D unit, Noccarc has ambitious plans to create a varied product range, beginning with critical care solutions. Harshit Rathore, Co-Founder & CTO, said, “The Indian medical devices market is approx. $12 Bn, and is expected to grow to $50 Bn by 2030. Currently, 80% of the medical devices in India are imported. A key barrier for Indian Medical Devices companies in achieving domestic and global success has been the absence of IP-based products, lack of R&D, non-adherence to global quality standards, and performance metrics necessary for international approvals like the FDA and EU MDR.” Noccarc presently possesses 7 patents, while an additional 19 patents have been filed for its innovative technologies. More power to Team Noccarc! Read more: https://lnkd.in/diHhNNku #Fundraise #FundingAlert #IAN #Noccarc #Innovation

Celebrating a significant milestone of Chakr Innovation, part of the IAN Fund portfolio! Chakr Innovation showcased its #cleantech energy solutions to Shri Amitabh Kant, G20 Sherpa, and former CEO of NITI Aayog Official. He applauded the startup for its ability to disrupt the global EV market. “Chakr Innovation is at the forefront of India’s deep tech ecosystem and delivers the ‘Make in India’ vision,” posted Shri Amitabh Kant on X (formerly Twitter). Many congratulations to Kushagra Srivastava and the team for driving innovation towards a sustainable future! #EVMarket #MakeInIndia #MaterialScience #SustainableSolutions

Today, we announce an exciting milestone – the first close of the Indian Angel Network Alpha Fund, through which we aim to ensure innovation meets opportunity! The Indian Angel Network Alpha Fund is the second VC fund in the Indian Angel Network Group’s series of funds, and we have achieved its first close at ₹355 cr, surpassing the target corpus of Indian Angel Network Fund I. Marquee investors of the IAN Alpha Fund include SIDBI(Small Industries Development Bank of India), SRI Fund, and several investors from IAN Fund I. With the first close of the Indian Angel Network Alpha Fund, we open the door to a treasure trove of high-quality support, guidance, and capital. We plan to deploy a significant sum of ₹355 cr to fuel the ambitions of visionary entrepreneurs and startups. Join us as we step into the next chapter of investing at Indian Angel Network. Priyank Garg Sarika Saxena #IANAlphaFund2023 #Investment #Innovation #VentureCapital #FirstClose #PEVC