There is a soaring demand worldwide for satellite services such as communication, navigation, and Earth observation. This demand has resulted in a substantial increase in the number of satellites deployed in Earth's orbit. As a result, there is an urgent need for robust SSA systems that can effectively monitor and manage these satellites, ensuring their operations remain safe and efficient.
To capitalize on the surging market demand, Bengaluru-based space situational awareness (SSA) company, Digantara, has secured a remarkable $10 million in a Series A1 funding round to develop its SSA services. This follows a seed round of $2.5 million raised by the company from Kalaari Capital in 2021.
Led by Peak XV Partners (formerly Sequoia Capital India), with participation from Kalaari Capital, Global Brains, Campus Fund, and the founders of IIFL Wealth, the fresh capital injection will allow Digantara to further develop its cutting-edge Space-Mission Assurance Platform (Space-MAP), which will provide an end-to-end solution that will address the challenges of space operations and situational awareness.
Additionally, the company has also commenced the development of India's first commercial SSA optical observatory in Uttarakhand to track space debris as small as 10 cm in the Earth orbit contributing to global efforts in space debris mitigation. Currently, 96% of the approximately one million objects in orbit remain unidentified, posing a potential threat to satellites and human missions.
Beyond the major objectives of space debris collection and safe space operation, the investment in Digantara is a safe bet. This is because, the space situational awareness (SSA) market is projected to witness an incremental growth value of $642.98 million between 2022 and 2028, according to research by equity firm, Insight Partners.
Digantara was launched in 2020 and is headquartered in Bengaluru with a presence in Singapore. Currently, it has a team of 30 experts specializing in areas such as astrodynamics, photonics, and space weather.