Spacetech firm GalaxEye raises $10-M from Mounttech Ventures, others

Mounttech Growth Fund, an early-stage venture capital firm founded by former defence secretary Ajay Kumar, is joining the USD 10 million funding round of Bengaluru-based spacetech startup GalaxEye . The round includes USD 2 million raised from Infosys and USD 6.5 million from Mela Ventures and Speciale Invest that are leading the round. This marks Mounttech’s first investment since the fund’s first close in July.The startup provides satellite-based imaging services and aims to launch the satellite around the middle of next year. Founded in 2021, it has so far raised about USD 15 million.The new funds will be used for accelerating the development of its upcoming satellite, ‘Drishti Mission’, set to provide high-resolution, all-weather, multi-sensor data.