Funding · Government, Defense & Space

GalaxEye raises $3.5M seed round for satellite launch

By Startup Enthusiast · 15 December 2022

What they do

GalaxEye builds a multi-sensor earth observation satellite constellation with data fusion

It raised $3.5M in seed funding led by Speciale Invest with angel investors including Nithin Kamath

The funds will accelerate the launch of its first satellite and commercialisation in US, Europe and Africa

GalaxEye has raised $3.5M in a seed round.
The round was led by Speciale Invest.
Participating investors include Artha India Ventures, Veda VC, Anicut Capital and Upsparks.
Angel investors include Nithin Kamath, Prashant Pitti, Abhishek Goyal and Ganpathy Subramaniam.
The funds will be used for hiring top-tier talent and accelerating the launch of its multi-sensor satellite.
This round marks the beginning of commercialisation with customers in the US, Europe and Africa.
GalaxEye has also acquired StarOps.

GalaxEye's Mission Drishti will be India's largest privately built satellite.
It will be the world's first OptoSAR EO satellite combining SAR and MSI sensors on a single platform.
The fused data resolution is 1.8 metres, enabling all-weather imaging without atmospheric interference.

GalaxEye is building a multi-sensor earth observation satellite constellation with data fusion capabilities.
Its flagship product is multi-sensor imagery via modern satellites.
Data fusion technology enables all-weather imaging without atmospheric interference.
It has partnerships with US-based space software provider Antaris and other organisations.
Applications include defence, infrastructure monitoring and agriculture.
The company has submitted a proposal to IN-SPACe for ISRO support.

Speciale Invest (lead) — An early-stage venture capital firm investing in deep tech and space startups.
Artha India Ventures (participated)
Veda VC (participated)
Anicut Capital (participated)
Upsparks (participated)
Nithin Kamath (angel) — Founder and CEO of Zerodha.
Prashant Pitti (angel)
Abhishek Goyal (angel)
Ganpathy Subramaniam (angel)

Product: OptoSAR satellites combining optical and synthetic aperture radar for all-weather day-and-night Earth observation capabilities
Customers: Government agencies, defense establishments, agriculture, insurance and disaster response sectors globally
How it makes money: B2G and B2B model providing satellite Earth observation data and services
What sets it apart: Proprietary OptoSAR technology enabling weather-agnostic imaging with 66% indigenization and reduced global supply chain dependence
Operations: Vertically integrated satellite design and manufacturing through acquisition of StarOps with in-house engineering capabilities