SUMMARY
- Spacetech startup GalaxEye completes $10M Series A funding led by MountTech Growth Fund.
- The firm aims to enhance its advanced multi-sensor payload, which integrates Optical MSI and SAR sensors.
- With India’s first UAV SAR system for defense, GalaxEye has conducted 300+ flights; recent government backing with a $1,000 crore venture fund.
In a pivotal move for India’s growing space technology sector, spacetech startup GalaxEye has successfully closed its Series A funding round, securing $10 million. Led by MountTech Growth Fund, the round also saw strong support from previous investors, including Mela Ventures, Speciale Invest, ideaForge, Rainmatter, Navam Capital, Faad Capital, and Anicut Capital. The first $6.5 million tranche was raised in August, with this completion reflecting ongoing investor confidence in GalaxEye’s ambitious projects.
Founded in 2020 by Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye has made significant strides in providing sophisticated space-based and aerial data solutions. The company’s multi-sensor payload technology, combining Optical Multi-Spectral Imaging (MSI) with Synthetic Aperture Radar (SAR) sensors, enables precise data collection for sectors such as defense, agriculture, surveillance, insurance, and aquaculture. This unique integration promises a comprehensive dataset that can enhance decision-making across multiple industries.
Notably, GalaxEye has also pioneered India’s first UAV SAR (Unmanned Aerial Vehicle Synthetic Aperture Radar) system, specifically developed for defense applications. To date, the company has successfully completed over 300 flights with its UAV SAR payload, demonstrating the robustness and reliability of its technology in real-world conditions. GalaxEye’s UAV SAR system addresses critical needs in national defense and other applications where high-precision surveillance and data accuracy are paramount.
The successful funding round comes as India’s government increases its commitment to the space sector. Recently, the Union Cabinet approved a Venture Capital Fund of Rs 1,000 crore aimed at supporting space tech startups, intending to assist approximately 40 startups nationwide. This strategic support signals a broader push to establish India as a leader in space technology, especially as global demand for advanced space data continues to grow.
With this new capital, GalaxEye plans to further develop its multi-sensor payload technology, scale operations, and expand its data offerings to new markets. The company remains committed to creating state-of-the-art space solutions that align with India’s defense and commercial needs.
