CHENNAI: Space-tech startup GalaxEye Space has secured $3.5 million funding in a seed round led by Special Invest, a deep-tech venture capital firm.
It also had participation from investors including Nithin Kamath, founder and chief executive officer (CEO) of Zerodha, among others.
The Bengaluru-based company plans to launch the world’s first multi-sensor satellite for earth observation. The data fusion technology will enable satellite constellations to perform all-weather imaging without atmospheric interference, according to a press note from GalaxEye.
Its technology will enable the production of images with extremely high resolution through small satellite constellations.
Commenting on the development, Suyash Singh, co founder and CEO of GalaxEye Space, said, “Next year is crucial for us, as we aspire to reach space with our satellite and become the leader in multi-sensor imaging for the industry. We will be seeking an additional round of funding of the order of 15-25 million USD in 2023 to add more satellites to our constellation as our business grows.”