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Infosys, a leading IT services company, announced on Thursday an investment of up to ?17 crore (around $2 million) in Bengaluru-based SpaceTech start-up GalaxEye Space Solutions. The investment, part of the Infosys Innovation Fund, is expected to be completed by September 30 and will include equity and Series-A compulsory convertible preference shares. Infosys will acquire a minority stake, not exceeding 20% of GalaxEye’s outstanding share capital. GalaxEye, incubated at IIT Madras, is developing cutting-edge multi-sensor satellites that combine Synthetic Aperture Radar (SAR) and Multi-Spectral Imaging technology to create high-resolution, all-weather datasets. These datasets have applications across industries such as defence, insurance, logistics, utilities, infrastructure, agriculture, disaster management, and mining. In a statement, Infosys highlighted the potential of SpaceTech as a frontier technology capable of driving significant value across industries by enabling data-driven decision-making powered by AI and analytics. The company views its partnership with GalaxEye as an opportunity to co-create innovative solutions for its clients, leveraging SpaceTech to accelerate business transformation across sectors. |
