Bengaluru-based GalaxEye, a space tech startup focused on earth observation, has raised $3.5 million in a seed funding round led by Speciale Invest, along with the participation from Artha India Ventures, Veda VC, Anicut Capital, Upsparks, and a clutch of entrepreneurs including Nithin Kamath, Prashant Pitti, Abhishek Goyal, and Ganpathy Subramaniam.
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According to the company’s statement, the raised capital will be used towards hiring top-tier talent and accelerating the launch of the multi-sensor satellite for earth observation. Additionally, the startup said the round also marks the beginning of commercialization with GalaxEye customers across the US, Europe and Africa.
Founded in 2020 by IIT Madras alumni Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, Rakshit Bhatt and professor S. R. Chakravarthy, GalaxEye is building a multi-sensor earth observation satellite. It is making a constellation of indigenous micro-satellites with data fusion capabilities.
The startup also announced the availability of the company’s flagship product, featuring multi-sensor imagery via modern satellites. It said that the data fusion technology developed in-house will bring insights and data from space, enabling satellite constellations to perform all-weather imaging at all times without atmospheric interference.
GalaxEye has also signed partnerships and commercial contracts with several organizations in the space tech ecosystem, including US-based space software provider Antaris.
The company plans to expand its partnerships and customer base in the coming months and has submitted a proposal to IN-SPACe seeking support from ISRO.
Source @Indianstartupnews
