SUMMARY
- Infosys is investing ₹17 crore in Bengaluru-based GalaxEye Space to acquire a minority stake via its Innovation Fund.
- The IIT Madras-incubated startup develops multi-sensor satellites that provide high-resolution, all-weather datasets for diverse industrial applications.
- This strategic partnership aims to drive advancements in space technology across sectors like defense, agriculture, and disaster management.
Infosys announced its decision to invest up to ₹17 crore in GalaxEye Space Solutions, a Bengaluru-based space tech startup, as part of the Infosys Innovation Fund. The investment, comprising equity and Series A compulsory convertible preference shares, will provide Infosys with a minority holding, with less than 20% of the company’s outstanding share capital.
The all-cash deal, expected to conclude by September 30, 2024, aims to accelerate GalaxEye’s development of multi-sensor satellites and synchronization platforms. These platforms generate comprehensive, all-weather, high-resolution datasets, offering benefits to industries such as defense, agriculture, disaster management, and more.
GalaxEye, incubated at IIT Madras, is building innovative satellite technologies poised to drive advancements across various sectors. The company’s solutions are expected to play a significant role in sectors like logistics, utilities, mining, and infrastructure.
