IIT Madras-incubated GalaxEye raises pre-seed from Speciale Invest

GalaxEye, a startup incubated by IIT Madras, has raised a pre-seed round led by Speciale Invest.

GalaxEye said it will use the funds to strengthen its space technology and build a "world class team" India.

The company was founded in 2020 by members hived out of Avishkar Hyperloop, a global space technology competition organised by billionaire Elon Musk’s SpaceX. It develops technologies that monitor Earth and outer space, working on a subscription-based Data-as-a-Service model.

“We are committed to building the future of Satellite Image Acquisition globally. Our product would enable businesses to make better decisions and perform operations efficiently via Space Technology,” said Suyash Singh, co-founder of GalaxEye.

Professor Satya Chakravarthy, co-founder and advisor to GalaxEye, said: "Our team is working on building an efficient smart satellite constellation providing a completely new dataset at a high cadence and resolution. Thus enabling businesses and governments to make data-driven decisions from derived insights.”