Infosys is investing INR 17 Cr in Bengaluru-based GalaxEye, a spacetech startup, to support its innovative satellite projects and acquire a minority stake.
Infosys, the IT giant, is investing INR 17 Cr (approximately $2 million) in Bengaluru-based spacetech startup GalaxEye as part of its ongoing Series A funding round. This investment, made through the Infosys Innovation Fund, aims to foster collaboration with AI and deeptech startups to develop next-generation solutions for clients.
The transaction is expected to be finalized by September 30, after which Infosys will hold a minority stake, not exceeding 20% of GalaxEye’s outstanding share capital.
Last month, GalaxEye secured INR 55 Cr (around $6.5 million) from investors including Mela Ventures and Speciale Invest. Other participants in this funding round were Rainmatter Capital, Navam Capital, Faad Capital, Anicut Capital, and drone tech startup ideaForge.
CEO Suyash Singh mentioned that the funds would support the launch of GalaxEye’s first satellite, the Drishti Mission, by mid-2025. The startup plans to close this funding round by September.
In July, ideaForge invested INR 8.28 crore in GalaxEye during its Series A round, focusing on developing drone-based sensors capable of penetrating fog and foliage.
Founded in 2021 by Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye aims to create the world’s first multi-sensor earth observation satellite and a constellation of indigenous micro-satellites with advanced data fusion capabilities.
Supported by investors like Speciale Invest, LetsVenture, and Mela Ventures, GalaxEye has raised over $10 million in funding to date.
