Funding · Government, Defense & Space

Infosys invests ₹17 crore in spacetech startup GalaxEye

By Startup Enthusiast · 20 September 2024

What they do

GalaxEye builds multi-sensor satellites that combine SAR and optical imaging on one platform

Infosys is investing ₹17 crore (~$2 million) for a minority stake through its Innovation Fund

The deal is expected to close by September 30, 2024, and follows a $6.5 million round in August 2024

Infosys is investing ₹17 crore (~$2 million) in spacetech startup GalaxEye via its Innovation Fund.
The investment will give Infosys a minority stake not exceeding 20% of outstanding share capital.
The funding is through equity and Series A compulsory convertible preference shares.
The deal is expected to close by September 30, 2024.
Infosys sees this as a strategic move to bring spacetech to businesses undergoing digital transformation.
GalaxEye had raised $6.5 million in August 2024, led by Mela Ventures and Speciale Invest.

Infosys Innovation Fund partners with AI and DeepTech startups to co-create next-generation solutions.
The investment aligns with Infosys's interest in leveraging spacetech for enterprise transformation.
GalaxEye's technology can serve defense, insurance, logistics, and agriculture sectors.

GalaxEye develops multi-sensor satellites that combine SAR (Synthetic Aperture Radar) and MSI (Multispectral Imager) on a single platform.
Its OptoSAR payload co-locates a high-resolution SAR sensor and a 7-band multispectral imager.
The fused data resolution is 1.8 meters; SAR resolution reaches 0.9 meters in Spotlight mode; MSI native resolution is 3.6 meters GSD.
Swath width: SAR 30 km, MSI 10 km.
The first satellite, Mission Drishti, is India's largest privately built satellite and will provide the highest-resolution imagery from any private player in India.
OptoSAR imagery provides three times more information than a standalone sensor.
Applications include defence, infrastructure monitoring, agriculture, insurance, logistics, utilities, disaster management, and mining.
GalaxEye has acquired StarOps (details not provided in facts).

GalaxEye plans to use the funds for multi-sensor payload technology and the launch of its first satellite, Mission Drishti, in Q1 2026.

Infosys (lead) — Infosys is a global IT services company investing through its Innovation Fund, which partners with AI and DeepTech startups.

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