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Spacetech startup GalaxEye has secured ₹63.84 Cr in financial support under the Centre’s Research, Development and Innovation (RDI) Fund to develop its next-generation multisensor satellite technology. The Technology Development Board (TDB), under the Department of Science and Technology (DST), has signed an agreement with the Bengaluru-based startup to provide the support through optionally convertible debentures. The project has a total approved cost of ₹247.69 Cr, the Centre said in a statement. It aims to develop an indigenous satellite capable of OptoSAR imaging at a resolution finer than 0.5 metres. The project will take the technology from Technology Readiness Level (TRL) 6 to TRL 9, progressing from a demonstrated prototype towards a system proven in operation. GalaxEye's technology combines synthetic aperture radar (SAR) and electro-optical (EO) imaging. While optical imaging can be affected by cloud cover and lighting conditions, SAR can capture images through clouds and without daylight. By combining the two, the startup aims to provide high-resolution Earth observation across different weather and lighting conditions. The proposed satellite’s applications include wide-area and long-range surveillance, detection of people and vehicles, and target classification, the government said. “The agreement with GalaxEye reflects TDB’s focus on enabling indigenous capabilities in emerging space technologies and supporting their journey towards commercialisation,” TDB secretary Rajesh Kumar Pathak said. GalaxEye Builds Its Satellite Capabilities Founded in 2021 by Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, GalaxEye builds multi-sensor earth observation satellites designed to provide high-resolution imaging and geospatial intelligence catering to sectors such as defence, agriculture, infrastructure and disaster management. The startup raised ₹44.2 Cr as part of an ongoing Series A round earlier this year, with investors including Speciale Invest, Rainmatter, MV Core and Mounttech Growth Fund. The IIT Madras-incubated startup has raised nearly $27 Mn in funding to date from investors like Speciale Invest, Mela Ventures, and Anicut Capital. The startup claims to be building the world’s first multi-sensor earth observation satellite and aims to deploy a constellation of indigenous micro-satellites with data fusion capabilities. Earlier this month, GalaxEye received a US patent for satellite imaging technology, the first of its kind for an Indian spacetech startup. The patent covers the core architecture behind the startup’s proprietary OptoSAR technology. This came after the startup launched its maiden OptoSAR satellite under ‘Mission Drishti’ in May, which was touted as India’s largest privately built earth observation satellite and the world’s first imaging satellite using OptoSAR. However, it lost communication with the satellite in July due to an anomaly linked to a geomagnetic solar storm. The startup is now targeting the launch of two new OptoSAR satellites in the next two years while expanding its in-house capabilities to further strengthen quality, reliability, and execution. Spacetech Funding Enters New Phase The agreement adds to support for spacetech startups under the Centre’s ₹1 Lakh Cr RDI Fund, approved in July 2025 to increase private-sector participation in research, development, and innovation. The fund is designed to finance technology development and commercialisation through long-term capital. It operates through a two-tier structure, with the Anusandhan National Research Foundation acting as the first-level custodian and institutions such as TDB and the Biotechnology Industry Research Assistance Council serving as second-level fund managers. According to the government statement, TDB has approved 22 projects with a combined project cost of ₹4,744 Cr, involving ₹2,192 Cr in RDI support. GalaxEye joins other spacetech startups backed under the programme. In May, Dhruva Space secured ₹105 Cr for Project Garud, which aims to develop a standardised satellite platform for large-scale deployments across telecom, earth observation, and national security applications. The public funding comes alongside larger private investments in the sector. Indian spacetech startups have raised nearly $250 Mn in 2026 so far. These include Skyroot Aerospace’s $60 Mn round, which made it India’s first spacetech unicorn, and Pixxel’s $100 Mn Series C to expand satellite manufacturing and imaging capabilities.
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