IIT-M incubated GalaxEye Space raiases $3.5 mn

CHENNAI: IIT-Madras incubated space tech start-up GalaxEye Space said on December 15 it had raised a $3.5 million seed round led by deep tech venture capital firm Speciale Invest, with investors including Zerodha’s founder Nithin Kamath and EaseMyTrip’s CEO Prashant Pitti.

Other investors in the round included Artha India Ventures, Veda VC, Anicut Capital, Upsparks, and a consortium of entrepreneurs, including Founder and CEO of Tracxn Abhishek Goyal and Partner at Celesta Capital Ganapathy Subramaniam. The start-up aims to recruit talent and accelerate the launch of its multi-sensor satellites for Earth observation. The funding comes on the back Hyderabad’s space tech start-up Skyroot Aerospace becomes the country’s first private firm to launch into space.