• Launch of Satellite Imaging GalaxEye Space Receives $3.5 Million in Seed Money.
• The company has also revealed that their premium multi-sensor photography is now accessible via a network of satellites.
• Regardless of climatic circumstances, they are able to give unmatched insights and data from space.

The country's startup economy is currently going through a protracted fundraising winter, but spacetech has slowly risen out of the shadows to become a bright spot. GalaxEye, a satellite development firm based in Bengaluru, is the first spacetech start-up to swiftly complete a $3.5 million seed investment round, the company announced on Friday.

Suyash Singh, the founder and CEO of the company, stated in an exclusive interview with Business Today that the investment round's success was a testament to the burgeoning potential of the nation's thriving spacetech industry. The price of constructing satellites and launching rockets is decreasing thanks to technology. 

In terms of policy, the government, ISRO, and IN-SPACe have all collaborated to provide the space industry a lot of momentum. In addition, investors are now more aware of the possibilities of spacetech than they were previously because of the emergence of commercial use cases like data. He added that the money raised would allow GalaxEye to bring on top talent and speed up the launch of the first multi-sensor earth observation satellite in history. With clients located in the US, Europe, and Africa, this will also signal the start of the firm's services being commercialised.

 According to Dr. Pawan Goenka, chairperson of IN-SPACe, the central organisation for authorising, promoting, and regulating private actors in the space sector, 'a good space start-up with a solid story won't find it difficult to secure investment at this stage.'

According to statistics gathered by IN-SPACe and BT, prominent Indian spacetech start-ups were able to collect more than $110 million in funding in CY2022. The launch of GalaxEye's main product, which uses multi-sensor imaging from contemporary satellites, has also been announced. 

With the help of the in-house developed data fusion technology, satellite constellations will be able to perform all-weather photography without the atmospheric interference that plagues today's single-sensor satellites. 

The innovation allows for the creation of photographs with an incredibly high resolution using a tiny constellation of satellites that, when fully operational, would offer worldwide coverage in less than 12 hours.