An Indian space tech start-up, GalaxEye has raised a $3.5 million round of seed funding led by Special Invest. Artha India Ventures, Veda VC, Anicut Capital, Upsparks, and a consortium of entrepreneurs including Nithin Kamath, Prashant Pitti, Abhishek Goyal, and Ganpathy Subramaniam also participated in this funding round.
The fresh funding will be used to hire top-tier talent and accelerate the launch of the world’s first multi-sensor satellite for earth observation.
The flagship product from GalaxEye offers multi-sensor imagery via modern satellites and data fusion technology. Once fully operational, GalaxEye’s technology will provide images with extremely high resolution via a small satellite constellation.
“We are truly the first Indian space start-up incorporated in India to build an imaging satellite and we are committed to accelerating technological innovation in India for the world,” Suyash Singh, co-founder & CEO, GalaxEye Space said.
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GalaxEye was founded back in 2020 by a team of 5 students and alumni of the Indian Institute of Technology Madras. The company was initially incubated at IIT Madras and is now based out of Bangalore.
2022 was special for India’s private space exploration. Last month, Hyderabad-based space tech startup, Skyroot Aerospace created India’s first privately built rocket Vikram-S. ISRO also launched 36 communications satellites of London-based communications company, OneWeb in October. As per reports. Idia;s space exploration space should reach a valuation of $13 billion by 2025.
