Spacetech Startup GalaxEye Raises USD 10 Mn Led by MountTech Growth Fund The latest funding will accelerate GalaxEye's plans to launch a high-resolution, all-weather satellite in 2025, providing crucial multi-sensor data for industries such as defense, agriculture, and insurance.
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Spacetech startup GalaxEye has raised USD 10 million in a Series A funding round led by MountTech Growth Fund - Kavachh, which joins as a strategic investor.
The round saw additional participation from Mela Ventures, Speciale Invest, ideaForge, Samarthya Investment Advisors, and Infosys, which recently announced its strategic investment in GalaxEye. Earlier this year, the Bengaluru-based company raised the first tranche of Series A funding, securing USD 6.5 million in August.
Founded in 2020 by Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye specialises in advanced multi-sensor satellite imaging technology.
The latest funding will accelerate GalaxEye's plans to launch a high-resolution, all-weather satellite in 2025, providing crucial multi-sensor data for industries such as defense, agriculture, and insurance.
Looking ahead, the startup aims to deploy a constellation of micro-satellites by 2027 to deliver real-time insights to both governmental and private sectors.
"We are thrilled to have MGF-Kavachh as a strategic partner at this pivotal stage of our journey," said Suyash Singh, CEO and Co-founder of GalaxEye. "Their deep expertise in defense and national security startups will complement our technological capabilities as we work towards our space missions."
GalaxEye's proprietary technology leverages Optical Multi-Spectral Imaging (MSI) and Synthetic Aperture Radar (SAR) to capture continuous, all-weather data for any location on Earth.
The company has also developed India's first unmanned aerial vehicle (UAV) SAR system for the defense sector, completing over 300 successful flights with this payload. Plans for commercial deployment of the UAV SAR system are set for 2025.
With partnerships across satellite platform systems, assembly, testing, and launch services, GalaxEye's advisory board includes experts from organisations like DRDO, Waymo, ISRO, and Swiss Re. This advanced satellite and UAV technology aims to provide critical insights for sectors including defense, surveillance, agriculture, insurance, and aquaculture.
