INDIA LACKS indigenously developed imaging radar and most of its satellite imagery requirements are met by importing designs and technology transfers from Israel and friendly Western nations. But all that is set to change. Bengaluru-based GalaxEye, founded by Suyash Singh along with four IIT Madras alumni, is developing indigenous imaging radars for defence and commercial requirements. “We aim to put India on the deep tech map of the world,” says Suyash Singh, co-founder and CEO.
Globally, satellite imagery is a $40 billion-plus market, but in India it is very small due to affordability and availability issues. Currently, satellite imagery uses in the country are limited to estimation of crop production, but it could revolutionise insurance, maritime, logistics, and defence sectors by effective data gathering, believes Singh.
The cost to build a big imagery satellite is around $150 million, whereas small satellites cost below $2 million. GalaxEye sees a lot of potential in the miniature satellites market. “GalaxEye is making small satellites using components that fit into a phone and minimise data collection cost drastically,” says Singh. The company owns sensors for aerial applications, and has three patents in multi-sensor imaging technology.
GalaxEye, valued at $15 million, has multiple customers across continents and boasts of an over $100 million of engagement based on letters of intent. — Rajiv Ranjan Singh