Indian Spacetech Startup GalaxEye Secures ₹44 Cr in Ongoing Series A…

Team S · 2026-03-13T13:43:30.000Z

Indian spacetech startup GalaxEye has raised ₹44.2 crore (around $4.8 million) as part of its ongoing Series A funding round, attracting investments from multiple venture funds and angel investors. The funding round saw participation from investors including Speciale Invest, Mela Venture, Rainmatter, Mounttech Growth Fund, Grand Anicut Angel Fund, Navam Venture Fund, Faad Capital, LV Angel Fund, and Eraya Capital, along with several individual backers. Among the institutional investors, Mela Venture contributed around ₹12 crore, Rainmatter invested approximately ₹13.5 crore, while Mounttech Growth Fund committed about ₹18 crore. Additionally, Speciale Invest invested close to ₹8 crore, highlighting continued support from existing investors as the company scales its space-technology capabilities. The funding was approved through the issuance of 2,424 Series B1 compulsorily convertible preference shares (CCPS) with a face value of ₹10 and a premium of about ₹1.82 lakh per share, according to regulatory filings. Founded in 2021 by Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye is developing advanced multi-sensor Earth observation satellites capable of delivering high-resolution geospatial intelligence. The startup aims to combine different sensing technologies to enable all-weather and day-night satellite imaging, serving industries such as defence, agriculture, disaster management, and infrastructure monitoring. The company claims it is building the world’s first multi-sensor Earth observation satellite, designed to integrate multiple imaging technologies into a single platform for more accurate and reliable data. The investment comes as India’s spacetech ecosystem continues to gain momentum, with increasing private participation and investor interest in satellite technology and space-based data services.

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Indian Spacetech Startup GalaxEye Secures ₹44 Cr in Ongoing Series A… | Newnex