Spacetech startup GalaxEye Space Raises USD 6.5 Mn Funding Led by Mela Ventures and Speciale Invest The capital raised will primarily be used to launch the company's first satellite, known as the "Drishti Mission," and to advance their multi-sensor payload technology.
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Spacetech startup GalaxEye Space has secured USD 6.5 million in a new funding round led by Mela Ventures and Speciale Invest. The round also saw contributions from ideaForge, along with additional support from Rainmatter, Navam Capital, Faad Capital, and Anicut Capital.
The capital raised will primarily be used to launch the company's first satellite, known as the "Drishti Mission," and to advance their multi-sensor payload technology.
Established in 2020 by Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye Space is at the forefront of developing indigenous multi-sensor imaging satellites.
These satellites incorporate advanced optical multi-spectral imaging (MSI) and synthetic aperture radar (SAR) technologies. The company's innovative approach aims to deliver continuous, all-weather information for any location on Earth, targeting applications across sectors such as defense, agriculture, and mining.
"GalaxEye Space stands at the forefront of innovation with their unique approach to combining MSI and SAR technology. This capability has the potential to revolutionise how data is gathered and interpreted from space, offering unprecedented insights and real-time applications across various industries," Vishesh Rajaram, Managing Partner of Speciale Invest, remarked. GalaxEye had raised a pre-seed round led by Speciale Invest in June 2021.
The Bengaluru-based firm is also recognised for developing India's first UAV SAR system tailored for defense markets, having completed over 300 successful flights with its UAV SAR payload.
To support its ambitious satellite projects, GalaxEye has forged partnerships with leading players in satellite platform systems, satellite assembly and testing, and launch segments. The company's advisory board includes experts from organisations such as DRDO, Waymo, ISRO, and Swiss Re, further solidifying its position in the space tech arena.
