GalaxEye approved for ₹63.84 Cr RDI Fund support for multisensor satellite project

Spacetech startup GalaxEye has secured approval for ₹63.84 Cr in financial support under the Centre’s Research, Development and Innovation (RDI) Fund for development of its next-generation multisensor satellite technology. The Technology Development Board (DST) signed an agreement with the Bengaluru-based company to provide the support via optionally convertible debentures for a project with a total approved cost of ₹247.69 Cr, aimed at an indigenous OptoSAR satellite with imaging resolution finer than 0.5 m and moving from TRL 6 to TRL 9.