Ex-defence secretary Ajay Kumar’s VC fund to invest in spacetech firm GalaxEye
Former Indian defence secretary Ajay Kumar’s venture capital (VC) fund, Avishkaar India, has committed to investing in GalaxEye, a Bengaluru-based space technology firm that focuses on building and operating an Earth observation constellation. This investment will help GalaxEye accelerate its expansion plans, including launching its first three nanosatellites by the end of 2023.
GalaxEye is building a constellation of nanosatellites equipped with high-resolution Synthetic Aperture Radar (SAR) technology. This technology allows them to capture images regardless of weather conditions, day or night, providing valuable data for various applications including agriculture, disaster management, urban planning, and infrastructure monitoring.
This investment from Avishkaar India marks a significant step forward for GalaxEye. Kumar, a former defence secretary and a veteran in the Indian government’s space programme, brings invaluable experience and knowledge to the table. His understanding of India’s defense and security needs, along with his insights into the country’s space industry, will be crucial for GalaxEye’s success.
This investment underlines the growing importance of space technology in India and the significant potential of private players in this sector. With government initiatives promoting the private space sector and growing demand for space-based data across industries, companies like GalaxEye are poised to play a pivotal role in shaping India’s future.
This investment comes on the heels of another significant development in India’s space sector – the successful launch of the PSLV-C56 rocket carrying the Oceansat-3 mission. This mission aims to further India’s capabilities in oceanographic studies and provide data for various applications like fisheries management, coastal monitoring, and marine pollution detection.
These developments highlight the rapid evolution of India’s space sector and its ambition to establish itself as a key player in the global space economy. The emergence of private space companies, combined with the government’s support for private sector involvement, promises exciting growth opportunities and advancements in this vital field.
