Infosys steps into space tech sector with investment in Bengaluru-based startup GalaxEye

On 19 September, Indian IT giant Infosys announced an investment of Rs 17 crore (about $2 million) in Bengaluru-based spacetech startup GalaxEye. The startup is building multi-sensor satellites and a synchronisation platform designed to serve a range of industries with high-resolution data.

Infosys is making this investment through its Innovation Fund, which focuses on AI and deep tech startups. The company sees this partnership as a way to develop new space technology solutions that can help its clients with business transformation. Infosys will acquire a minority stake in GalaxEye, with the investment giving them less than 20 per cent of the startup's shares. The deal is expected to be finalised by 30 September 2024.

This investment follows GalaxEye's recent $6.5 million funding round, led by Mela Ventures and Speciale Invest, with additional backing from companies like ideaForge and Rainmatter. GalaxEye plans to use these funds to launch its first satellite, the Drishti Mission, in 2025. The startup is also working on advancing its multi-sensor technology.

Founded in 2021 by five IIT-Madras students and alumni, GalaxEye has rapidly gained attention for its work in space technology. The company’s satellites are designed to capture high-resolution images using both radar and optical sensors, enabling all-weather, around-the-clock data collection. This technology has wide-ranging applications, from defence and agriculture to disaster management and urban planning.

Infosys believes that space technology, combined with AI and analytics, can help industries make better data-driven decisions. In its announcement, the company emphasised that SpaceTech has the potential to create valuable business solutions globally.

GalaxEye’s satellites offer benefits for several industries, such as defence, where the company is already collaborating with drone maker ideaForge. Together, they are developing radar payloads for drones, which have critical applications in defence.