SUMMARY
GalaxEye has raised about ₹44.2 Cr (about $4.8 Mn) as part of its ongoing Series A funding round
The round saw participation from a host of investors like Speciale Invest, MV Core, Rainmatter, Mounttech Growth Fund, Grand Anicut Angel Fund, Navam Venture Fund, Faad Capital, LV Angel Fund, among others
The startup claims to be building the world’s first multi-sensor earth observation satellite
Spacetech startup GalaxEye
has raised about ₹44.2 Cr (about $4.8 Mn) as part of its extended Series A funding round from its existing investors.
The round saw participation from a host of investors like Speciale Invest, Mela Venture, Rainmatter, Mounttech Growth Fund, Anicut Capital, Navam Venture Fund, Faad Capital, LV Angel Fund, and Eraya Capital, along with a few individual investors.
Among institutional investors, Mela Venture invested about ₹12 Cr, Rainmatter invested about ₹13.5 Cr, Mounttech put in ₹18 Cr, while Speciale Invest poured in around ₹8 Cr.
LV Angel Fund invested about ₹4.8 Cr, while Eraya Capital Fund I, Grand Anicut Angel Fund, and Penmasta Teja Raju each invested roughly ₹2.5 Cr.
According to regulatory filings accessed by Inc42, the startup’s board approved the issuance of 2,424 Series B1 compulsorily convertible preference shares (CCPS) with a face value of ₹10 and a premium of ₹1.82 Lakh per share through a private placement.
Inc42 reached out to the startup for more details on the development, the story will be updated based on their responses.
Founded in 2021 by Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye builds multi-sensor earth observation satellites designed to provide high-resolution imaging and geospatial intelligence catering to sectors such as defence, agriculture, infrastructure and disaster management.
The startup claims to be building the world’s first multi-sensor earth observation satellite. It aims to deploy a constellation of indigenous micro-satellites with data fusion capabilities.
The funding comes at a time when India’s spacetech ecosystem is seeing rising investor interest. According to Inc42 data, the funding in the sector surged 94% to $157 Mn in 2025 from $81 Mn in 2024, driven by growing demand for satellite data and communications infrastructure.
As of now, India has more than 200 private space companies working across satellites, launch vehicles, communications infrastructure and downstream data services, as global demand grows for cost-efficient and reliable space technologies. As per Inc42’s Annual Indian Startup Trends Report, 2025, the Indian spacetech market is projected to cross $77 Bn by 2030.
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