
Infosys announced on Thursday that it will invest up to INR 17 crore in GalaxEye Space Solutions, a space tech startup, through its Infosys Innovation Fund. According to a regulatory filing, the investment will be made via equity and Series A compulsory convertible preference shares. The all-cash deal, expected to be finalized by September 30, 2024, will give Infosys a minority stake of no more than 20% in the company.
GalaxEye, incubated at IIT Madras and based in Bengaluru, is developing multi-sensor satellites and a synchronization platform that produces comprehensive, high-resolution, all-weather datasets. These technologies have potential applications across several sectors, including defense, insurance, logistics, utilities, infrastructure, agriculture, disaster management, and mining.
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