The space tech start-up GalaxEye Space, which was cultivated at IIT Madras and hopes to influence satellite image acquisition in the future, has announced the first closure of its current fundraising round, which raised $6.5 million and was headed by Mela Ventures and Speciale Invest. ideaForge also participated in the round, and Rainmatter, Navam Capital, Faad Capital, and Anicut Capital made further investments. The money raised will be used to advance the multi-sensor payload technology of GalaxEye and launch the company’s first satellite, the “Drishti Mission.”
GalaxEye is a precision dataset provider from space and airborne platforms, utilizing sophisticated multi-sensor payloads. It was founded in 2020 by former members of Team Avishkar Hyperloop. Under the leadership of Suyash Singh and his group, the business combines optical MSI and SAR sensors to provide services to the defence, agricultural, and surveillance industries. They developed the first UAV SAR system for defence in India and are working with ideaforge to develop SAR payloads for drones. GalaxEye provides end-to-end solutions for industry-wide decision-making by fusing platforms, images data, and analytics.
GalaxEye Space’s co-founder and CEO, Suyash Singh, emphasized the company’s accomplishments with more than 300 UAV SAR flights and expressed excitement about collaborating with reliable investors to establish a global leader in space technology.
Anticipating the success of their “Drishti Mission” satellite, Krishnakumar Natarajan, Managing Partner of Mela Ventures, hailed GalaxEye’s MSI/SAR technology as a game-changer for industries including defence and agriculture.
GalaxEye’s novel approach to merging MSI and SAR technologies was highlighted by Vishesh Rajaram, Managing Partner at Speciale Invest. This technology has the potential to transform data collection and provide real-time insights across several industries.
