Space tech startup GalaxEye Space raises 3.5 Mn in funding led by Speciale invest

• ByStartupStory     |    December 15, 2022

GalaxEye Space Pvt Ltd has raised 3.5 Million in the funding. The funding was led by Speciale Invest and a clutch of investors including Zerodha founder Nithin Kamath and EaseMyTrip CEO Prashant Pitti. GalaxEye Space was a n IIT Madras incubated space tech startup currently based out of Bangalore. Artha India Ventures, Veda VC, Anicut Capital, Upsparks, and a consortium of entrepreneurs including Abhishek Goyal and Ganapathy Subramaniam are the other investors who participated in the round.

The major aim of the company is to hire talent and accelerate the launch of its multi-sensor satellite for earth observation with the funding. Also they are planning to launch its satellite at the end of 2023 by commercialising its operations.

“Next year is crucial for us, as we aspire to reach space with our satellite and become the leader in multi-sensor imaging for the industry, ” said Suyash Singh the founder and CEO of GalaxEye.

“GalaxEye is one of the unique companies with the vision to democratise access to space for the small satellite market. Their team has a distinctive mix of domain strength and tenacity that will get them to space, making India self-reliant. This investment aligns with our vision of backing visionary founders with disruptive companies to solve global problems via tech innovations,” said Managing Partner of Speciale Invest, Vishesh Rajaram.

GalaxEye was founded in 2020 by five students of Indian Institute of Technology Madras. The start-up has partnerships and commercial contracts with organisations in the space tech ecosystem, including US-based space software provider Antaris. By requesting support from the Indian Space Research Organisation (ISRO) the company has already submitted a proposal to IN-SPACe too. The services of the company includes building technologies to provide the Most Meaningful Dataset from Space, that would provide details of an Area of Interest on Earth. This first-of-its-kind dataset will enable advanced Imagery Products and Processes such as Data Fusion, Cloud Removal, etc.

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