GalaxEye Raises $3.5 Million In Seed Funding Round
The fund raised will be used to bolster the hiring of top-tier talent and accelerate the launch of the world's first multi-sensor satellite for earth observation
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GalaxEye Space, a spacetech startup focused on earth observation, has raised $3.5 million in a Seed funding round led by Special Invest, a deep-tech venture capital firm. The new round also had participation from investors including Artha India Ventures, Veda VC, Anicut Capital, Upsparks, and a consortium of entrepreneurs including Nithin Kamath (founder/CEO of Zerodha), Prashant Pitti (founder/CEO of EaseMyTrip), Abhishek Goyal (founder/CEO of Tracxn) and Ganapathy Subramaniam (partner at Celesta Capital). The fund raised will be used to bolster the hiring of top-tier talent and accelerate the launch of the world's first multi-sensor satellite for earth observation. This will also mark the beginning of commercialization with GalaxEye customers across the US, Europe and Africa.
"We are truly the first Indian space startup incorporated in India to build an imaging satellite and we are committed to accelerating technological innovation in India for the world. I believe this is possible today with the enormous support available from ISRO, government, and our global partners," said Suyash Singh, co-founder and CEO, GalaxEye Space.
GalaxEye has already signed partnerships and commercial contracts with several leading organizations in the space tech ecosystem, including US-based space software provider Antaris. The company plans to continue expanding its partnerships and customer base in the coming months and has submitted a proposal to IN-SPACe seeking support from ISRO, claimed by the company in a statement.
Founded in 2020, GalaxEye is the brainchild of several entrepreneurs emerging from Avishkar Hyperloop, a team of scientists brought together via global competition organized by Elon Musk's aerospace manufacturer and space transportation services company SpaceX.