Blog

Spacetech startup Galaxeye has raised $10 million in Series A funding led by MountTech Growth Fund – Kavachh as a strategic investor.

The round also saw participation from Mela Ventures, Speciale Invest, ideaForge, Samarthya Investment Advisors, and Infosys, which disclosed its strategic investment in the startup last month. The $10 million funding includes $2 million raised from Infosys and $6.5 million investment led by Mela Ventures and Speciale Invest.

This marks MountTech’s maiden investment since its first close in July this year. MountTech is an early-stage venture capital firm founded by former defence secretary Ajay Kumar.

The Bengaluru-based startup said it will use the funding to fast-track the launch of a high-resolution, all-weather satellite in 2025, delivering essential multi-sensor data for sectors such as defense, agriculture, and insurance.

By 2027, it aims to deploy a constellation of micro-satellites to provide real-time insights to both government and private sectors.

“We are thrilled to have MGF-Kavachh as our strategic partner at this pivotal stage of our journey. Their deep expertise and support-platform for defence and national security start-ups will complement our technological capabilities as we work towards launching our space missions,” said Suyash Singh, CEO & Co-founder of GalaxEye.

“The Prime Minister’s support towards the development of the Indian space ecosystem expressed during our recent interaction, further energises our commitment to developing space-based solutions that can serve India and deliver critical insights on a global scale,” he added.

Founded in 2021, GalaxEye was established by Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt—who emerged from Avishkar Hyperloop, a global competition organised by Elon Musk’s aerospace company SpaceX.

It is developing indigenous multi-sensor imaging satellites, equipped with optical multi-spectral imaging (MSI) and synthetic aperture radar (SAR) technologies. These satellites aim to provide continuous, all-weather information for any location on Earth, offering benefits to industries such as defence, agriculture, and mining.

The Bengaluru-based firm has also developed an unmanned aerial vehicle SAR system for the defence sector and aims for commercial deployment in 2025.

It has partnered with leading industry players in satellite platform systems, satellite assembly and testing, and launch segments for its satellite projects. Its advisory board includes experts from organisations like DRDO, Waymo, ISRO, and Swiss Re.