Spacetech Startup GalaxEye Raises $10 Mn Series A Funding

MountTech Growth Fund, a strategic investor in the spacetech startup , has led the $10 million Series A investment round.

In August of this year, the business raised $6.5 million in its first round of Series A funding. The current round also included participation from Mela Ventures, Speciale Invest, ideaForge, Rainmatter, Navam Capital, Faad Capital, and Anicut Capital.

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According to business, the money will be used to accelerate the 2025 launch of an excellent quality, all-weather satellite that would provide crucial multi-sensor data for industries including insurance, the agricultural sector, and the military. 

Despite nighttime and cloud cover, GalaxEye's Drishti mission's unique multi-sensor capabilities provide comprehensible, all-weather imagery from orbit.

A venture capital fund worth Rs 1,000 crore was recently approved by the Union Cabinet to assist companies in the space sector. In India, the fund will support about 40 startups.

About GalaxEye

Founded in 2020 by Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye is Indian headquartered space tech startup and the first Indian HQ startup to send a Satellite into orbit soon.

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