GalaxEye, a cutting-edge spacetech startup, has successfully closed its $10 million Series A funding round, primarily led by MountTech Growth Fund.
Earlier in August, GalaxEye secured $6.5 million as the initial portion of this Series A round. The latest funding was joined by notable investors, including Mela Ventures, Speciale Invest, ideaForge, Rainmatter, Navam Capital, Faad Capital, and Anicut Capital.
Launched in 2020 by founders Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye is known for delivering highly accurate data from space and aerial platforms through its state-of-the-art multi-sensor payload technology.
The company’s innovation combines Optical MSI and SAR sensors, enabling robust data insights essential for industries such as defense, surveillance, agriculture, insurance, and aquaculture.
GalaxEye has also pioneered India’s first UAV SAR system aimed at the defense market, with the UAV SAR Payload having completed over 300 successful test flights.
In line with the growing support for the space sector, the Union Cabinet recently approved a Rs 1,000 crore Venture Capital Fund to foster around 40 space-focused startups across India, boosting innovation and development within the industry.