Indian SpaceTech Startup GalaxEye Secures $10M to Build Advanced Satellite Fleet

Indian SpaceTech startup GalaxEye has successfully concluded its Series A funding round, securing $10 million. The investment was led by MountTech Growth Fund—Kavachh, founded by former defense secretary Ajay Kumar, with participation from venture capital firms Mela Ventures, Speciale Invest, ideaForge, Samarthya Investment Advisors, and Infosys, which disclosed its investment last month.

The funds will be used to advance the development and commercialization of GalaxEye’s satellite technology. This includes accelerating the launch of its first satellite, expected in 2025, and supporting the company’s goal to build a constellation of multi-sensor satellites. These satellites will provide high-resolution, all-weather data for various industries such as defense, agriculture, maritime, and insurance.

MountTech Growth Fund – Kavachh (MGF-Kavachh), led by Ajay Kumar, is a key strategic investor in GalaxEye’s Series A round. Kumar highlighted the alignment of GalaxEye’s satellite technology with India’s national security and tech independence goals. The partnership with MGF-Kavachh is expected to support GalaxEye as it develops space-based solutions for both the defence and civil sectors.

Suyash Singh, CEO and co-founder of GalaxEye, said that MGF-Kavachh’s deep expertise in defense and national security startups would complement the company’s technological capabilities. He also noted the strong support from the Indian government and Prime Minister Narendra Modi’s vision for developing the Indian space ecosystem.

GalaxEye plans to deploy a constellation of micro-satellites by 2027. These satellites will enhance the company’s continuous data collection capabilities. 

Co-founder Pranit Mehta highlighted the goal of providing actionable insights to end-users across various industries, focusing on defense, agriculture, and aquaculture, where satellite data fusion can significantly impact decision-making.

GalaxEye, founded in 2021 and headquartered in Chennai, has steadily progressed with its space technology innovations. In August, the company raised $6.5 million in a round led by Mela Ventures and Speciale Invest, which will support the launch of its first satellite, the “Drishti Mission.” 

This funding will also aid in further development of its multi-sensor payload technology. Prior to this, the startup secured $3.5 million in seed funding, demonstrating strong investor confidence in its potential. GalaxEye’s mission is to build the world’s first multi-sensor satellite capable of providing high-resolution, all-weather data, a key asset for multiple industries.

GalaxEye is eyeing international expansion while maintaining an India-first approach as the company prepares to scale its operations. Co-founder Pranit Mehta shared that while the company is in early discussions with potential international partners, the focus remains on addressing India-specific challenges.