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Digantara Plans To Raise Money Through Series A Round

Series A round describes the company's first significant round of venture capital financing

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Digantara, a space weather and debris-tracking startup, plans to raise new capital in a Series A round to accelerate its business plans, according to chief executive Anirudh Sharma.

In an interview, Sharma said that Digantara expects to launch a beta version of its space data mapping service by the end of this year, following the Series A round.

The company launched its second satellite on Tuesday aboard SpaceX's Transporter 6 rocket. “We intend to launch at least two more satellites this year, beginning with a larger satellite. We have enough runway for our next launch thanks to the USD 2.5 million seed funding we received in 2021, which allowed us to build at least three satellites. We also intend to announce our Series A round in the coming months, which will provide us with the additional runway,” Sharma said.

“By the fourth quarter of this year, we plan to launch a beta version of our space data service with a couple of clients who have signed intent to work with us, and we'll give this data set to them for free. Our commercial services will begin in 2024 and we will need at least eight space weather-sensing satellites in orbit, as well as one ground station, all of which we intend to build by then,” he said.

He also said that Digantara's initial launch campaign would only be used for internal space data calibration.

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Digantara space startups Series A round