Infosys has announced an investment of Rs 17 crore in GalaxEye, a Bengaluru-based spacetech startup. The investment aims to develop multi-sensor satellites for various industries.

Founded at IIT Madras and headquartered in Bengaluru, GalaxEye is developing multi-sensor satellites and a synchronization platform that produces high-resolution, all-weather datasets.

Infosys Ltd. announced on Thursday that it would acquire up to a 20% stake in GalaxEye, a space-tech startup that builds multi-sensor satellites. The stake will be acquired for Rs 17 crore and the transaction is expected to be completed by Sept.

Infosys invests up to Rs 17 crore in GalaxEye Space Solutions, a space tech startup, through its Innovation Fund. The investment will support GalaxEye's development of multi-sensor satellites and data platforms for various industries.

Infosys invests $2 million in Bengaluru-based SpaceTech start-up GalaxEye Space Solutions for innovative satellite technology.

The cash investment will involve Infosys picking up a minority stake, less than 20%, as part of the series A round to pick up equity and compulsory convertible preference shares.