The space technology company GalaxEye, located in Bengaluru, announced on September 19 that Infosys, a major player in the Indian IT industry, will donate Rs 17 crore, or over $2 million. The company is creating synchronization platforms and multi-sensor satellites to supply many sectors with high-resolution data.
Infosys is funding this research through its Innovation Fund, which targets deep tech and artificial intelligence firms. The company views the partnership as a way to develop cutting-edge space technology solutions that might support its clients’ business transformation. Infosys intends to acquire a minority stake in GalaxEye, which amounts to less than 20% of the company’s equity. The contract
The outcome of this investment was a $6.5 million capital round led by Mela Ventures and Speciale Invest with additional support from Rainmatter and ideaForge. The Drishti Mission, GalaxEye’s first satellite, is scheduled to launch in 2025 with the help of this funding.
Furthermore, the company’s multi-sensor technology is being strengthened. GalaxEye, a space technology company that has gained significant attention quickly, was established in 2021 by five IIT-Madras students and graduates. Because its satellites are built to acquire high-resolution images using both radar and optical sensors, they can gather data day or night and in any weather. Infosys noted in a statement that SpaceTech has the potential to offer significant commercial solutions on a global scale.
Infosys believes that companies may enhance their data-driven decision-making by combining artificial intelligence, analytics, and space technology. GalaxEye’s satellites are useful in many domains, including defense, where the company already produces drone radar payloads—which are critical for military applications—in collaboration with drone manufacturer ideaForge.