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Infosys Invests in GalaxEye Space Solutions

Infosys has made a strategic investment in GalaxEye Space Solutions, a space tech startup developing multi-sensor satellites. The investment, which is set to be completed by September 30, 2024, will give Infosys a minority stake in GalaxEye, not exceeding 20% of the startup's total outstanding shares.

• Infosys will invest up to INR 17 crore in GalaxEye.
• The investment will be through a combination of equity and compulsory convertible preference shares.

GalaxEye: Pioneers in Space Technology

GalaxEye Space Solutions, founded at IIT Madras and headquartered in Bengaluru, is at the forefront of space technology. The company is developing multi-sensor satellites and synchronisation platforms that produce high-resolution, all-weather datasets.

• GalaxEye's technology has applications in defense, insurance, logistics, infrastructure, agriculture, disaster management, and more.
• The company's focus is on building advanced satellite technology for a range of industries.

GalaxEye's Drishti Mission: Launching a Satellite

The investment from Infosys will help GalaxEye launch its inaugural satellite, the Drishti Mission, in 2025. The funds will also be used to advance its multi-sensor payload technology.

• GalaxEye has already secured USD 6.5 million in funding from Mela Ventures, Speciale Invest, Rainmatter, Navam Capital, and others.
• The company's Drishti Mission aims to revolutionize data collection and analysis using satellite technology.

GalaxEye's Growth and Partnerships

In 2022, GalaxEye raised USD 3.5 million in seed funding from Speciale Invest, Zerodha founder Nithin Kamath, and EaseMyTrip CEO Prashant Pitti. The company has also partnered with drone company IdeaForge to develop Synthetic Aperture Radar (SAR) payloads for defense applications.

• GalaxEye has secured significant funding through various rounds, demonstrating investor confidence in its space technology.
• The startup's strategic partnership with IdeaForge strengthens its position in the defense sector.

Growing Interest in Space Tech Startups

Infosys's investment in GalaxEye highlights the growing interest in space tech startups and the potential for innovation across industries.

• Space technology is becoming increasingly relevant in various sectors, attracting significant investment.
• GalaxEye's success highlights the potential for startups to leverage satellite technology for real-world solutions.