Infosys Announces Strategic Investment in Space Startup GalaxEye with INR 17 Cr Funding Bengaluru-based GalaxEye develops multi-sensor satellites and synchronisation platforms for high-resolution, all-weather data. Its technology serves defense, insurance, logistics, agriculture, disaster management, and infrastructure sectors.

By Entrepreneur Staff

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Infosys has announced plans to invest up to INR 17 crore in space tech startup GalaxEye Space Solutions through its Infosys Innovation Fund.

According to a regulatory filing, the investment will consist of both equity and compulsory convertible preference shares. The transaction, which is set to be completed by September 30, 2024, will give Infosys a minority stake in GalaxEye, not exceeding 20% of the startup's total outstanding shares.

GalaxEye Space Solutions, founded at IIT Madras and headquartered in Bengaluru, is at the forefront of space technology. The company is developing multi-sensor satellites and synchronisation platforms that produce high-resolution, all-weather datasets. These technologies have broad applications in defense, insurance, logistics, infrastructure, agriculture, disaster management, and more.

This investment comes after GalaxEye successfully closed a USD 6.5 million funding round on August 1, 2024, led by Mela Ventures and Speciale Invest, with additional backing from Rainmatter, Navam Capital, and others. The funds are aimed at launching GalaxEye's inaugural satellite, the Drishti Mission, in 2025 and advancing its multi-sensor payload technology.

In 2022, the startup raised USD 3.5 million in seed funding, led by Speciale Invest, with participation from Zerodha founder Nithin Kamath and EaseMyTrip CEO Prashant Pitti. The company has also partnered with drone company IdeaForge to develop Synthetic Aperture Radar (SAR) payloads for defense applications.

This strategic investment from Infosys highlights the growing interest in space tech startups and the potential for innovation across industries.
Entrepreneur Staff

Entrepreneur Staff

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