SpaceTech start-up GalaxEye has closed its Series A round, securing $10 million from MountTech Growth Fund – Kavachh, and others. The round also included participation from Infosys, Speciale Invest, Mela Ventures, ideaForge, and Samarthya Investment Advisors. The funds will be used to commercialise its satellite offerings, invest in R&D, and accelerate the launch of its first satellite, which is expected in 2025.
Furthermore, the company looks to add five satellites capturing any point of earth in less than a day, said Pranit Mehta, Co-founder, GalaxEye.
Explaining the company’s commercialisation, Mehta said “We aim to scale our offerings for both defence and civil applications, along with exploring uses in agriculture and aquaculture, where satellite data fusion can offer actionable insights to end-users—a promising area for further growth.
Mehta highlights the collaboration with MountTech as instrumental to their expansion in the defence market. “Having a partner like MountTech, founded by former Union Defence Secretary Ajay Kumar, gives us confidence that what we’re building holds value for defence and contributes to national security. They also bring critical experience and guidance on shaping our technology to deliver actionable insights.”
Furthermore, the company is planning to expand internationally with its offerings and is currently exploring potential opportunities. Mehta explains that while they are in very exploratory conversations at this stage, the company maintains an India-first mindset, focusing primarily on India-specific challenges. “As they say, if you’re building something for India, you can very comfortably scale, and that’s something we hold onto,” he adds.
Founded in 2021, GalaxEye is a Chennai-headquartered Space-Tech start-ups that focuses on building the world’s first multi-sensor satellite designed to provide all-weather, high-resolution data.