Space startup GalaxEye Space on Thursday announced that it has successfully raised a $3.5 million seed funding round.
Space startup GalaxEye Space on Thursday announced that it has successfully raised a $3.5 million seed funding round as it plans to launch earth observation satellites. follow its own minor constellation at the beginning of next year.
The new funding will help accelerate hiring of top talent and accelerate the launch of the world’s first multi-sensor satellite for The earth observed, a company statement said.
Led by Special Invest, a deep tech venture capital firm, the fundraising involved investors including Artha India Ventures, Veda VC, Anicut Capital, Upsparks and a consortium of entrepreneurs including including Nithin Kamath (founder/CEO of Zerodha), Prashant Pitti (Founder/CEO of EaseMyTrip), Abhishek Goyal (Founder/CEO of Tracxn) and Ganpathy Subramaniam (Partner at Celesta) Capital).
It also marks the beginning of commercialization with GalaxEye customers worldwide. WE, Europe and Africa.
GalaxEye’s technology will enable the creation of extremely high-resolution images through a small constellation of satellites that, when fully operational, will provide global coverage in less than 12 hours.
Suyash Singh, Co-Founder and CEO of GalaxEye Space said: “We are indeed the first Indian space startup established in India to build an imaging satellite and we I am committed to promoting technological innovation in India to the world.
“I believe this is possible today with the tremendous support from ISROgovernment and our global partners,” he said.
GalaxEye also announced the company’s flagship product offering, featuring multi-sensor imaging via state-of-the-art satellites.
In-house developed data aggregation technology will bring unparalleled insights and data from space, allowing satellite constellations to perform all-weather imaging without the typical atmospheric interference of single sensor satellites today.
“Next year is very important for us, as we look forward to reaching space with our satellite and becoming the industry leader in multi-sensor imaging,” said Singh.
“We will be seeking an additional funding round of $15-25 million (one million = 10 lakh) in 2023 to add more satellites to our constellation as our business grows,” he said. Ours grows”.
Founded in 2020, GalaxEye is the brainchild of several entrepreneurs emerging from the Avishkar Hyperloop, a group of scientists brought together through a global competition led by Elon’s aerospace manufacturer Musk and space transportation service company SpaceX organized.
