VC Fund Investments
Spacetech startup GalaxEye raises $6.5 M led by Mela Ventures, Speciale Invest
Bengaluru-based spacetech startup GalaxEye Space Solutions has raised USD 6.5 million as part of a Series A funding round co-led by Mela Ventures and Speciale Invest. The round also saw participation from publicly-listed drone maker ideaForge, Rainmatter Capital, Navam Capital, Faad Capital, and Anicut Capital.Founded in 2021 by Suyash Singh and Denil Chawda, GalaxEye Space Solutions is an IIT Madras incubated space tech startup which builds multi-sensor imaging satellites that canl enable governments, defence, and industries to perform advanced geospatial analyses.The funding will be used to launch GalaxEye’s first satellite, the “Drishti Mission”, to further advance its multi-sensor payload technology, enhance testing infrastructure in the labs, and support team expansion.
Earlier in July, ideaForge had announced that it is investing INR 8.28 crore in the Series A round of GalaxEye. In 2021 and 2022, GalaxEye had raised about $4-M in seed funding from Artha India Ventures, Speciale Invest, Anicut Capital, Rainmatter Capital, UpSparks, Dholakia Ventures and Others.
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