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GalaxEye Raises $10M in Series A for Satellite-Based Earth Observation

The image shows a satellite labeled "GalaxyEye" floating in space with an expansive starry night sky in the background. The satellite has large solar panels, visible on both sides, extending outward. Below the satellite, the "GalaxyEye" logo is displayed in white text, with a circular design incorporated into the "e," resembling an eye or lens, symbolizing observation or vision. The scene evokes a sense of exploration and advanced technology in space.
By
Anurag Trivedi
2 min read

Indian space tech startup GalaxEye has closed a $10 million Series A funding round as it prepares to launch its first satellite in mid-2025. The latest funding brings on MountTech Growth Fund - Kavachh (MGF-Kavachh) as a strategic investor, a critical tech-focused fund chaired by former Union Defence Secretary Ajay Kumar.

Funding Details and Strategic Investors

The Series A funding round was completed in two tranches:

  • First Tranche (3 months ago): GalaxEye raised $6.5 million, led by Speciale Invest and Mela Ventures.
  • Second Tranche: MountTech Growth Fund - Kavachh joined as a strategic investor, supporting GalaxEye’s growth trajectory.

Other notable investors in GalaxEye include ideaForge, Rainmatter, Navam Capital, FAAD Capital, and Anicut Capital.

GalaxEye’s Founding and Technology Focus

Founded in 2021 by a team from Avishkar Hyperloop, a SpaceX-organized global competition, GalaxEye develops multi-sensor satellite technology for Earth observation, with future plans to expand to outer space monitoring. The company is based in Bengaluru and aims to contribute to the space infrastructure for multi-planetary evolution.

Upcoming Satellite Launch and UAVSAR Deployment

GalaxEye is targeting mid-Q2 to early Q3 of 2025 for the launch of its first multi-sensor satellite, which will coincide with the commercial deployment of its UAVSAR system. The Uninhabited Aerial Vehicle Synthetic Aperture Radar (UAVSAR) is an imaging radar tool designed to study natural phenomena like earthquakes and volcanoes.

Suyash Singh, co-founder and CEO, confirmed that the Series A funding will support the launch, stating, "The timing is more confirmed than before, and as we get closer, the plans are becoming increasingly firm."

Perspective on Foreign Investment and India’s Space Sector

While GalaxEye has primarily attracted Indian investors, Singh noted interest from foreign investors but cited geopolitical factors and a preference among U.S.-based VCs for domestic companies as challenges. Singh added that GalaxEye remains open to foreign investment but has consciously focused on Indian support due to economic shifts abroad.

Source: DeelStreetAsia