Infosys Innovation Fund collaborates with GalaxEye

Infosys Limited has agreed to invest in SpaceTech startup, GalaxEye up to INR 17 Crores (approximately US$ 2.0 million) as part of Infosys Innovation Fund.

SpaceTech is a frontier technology with potential to unlock significant value to businesses globally and create high impact solutions at scale.

GalaxEye, a SpaceTech startup for Earth Observation builds multi-sensor satellites and synchronization platform. GalaxEye generates comprehensive all-weather, high-resolution and intuitive datasets. The downstream applications of space technology and the datasets powered by AI and Analytics presents a potential of data-driven decisions spanning multiple industries.

Infosys Innovation Fund seeks to partner with AI and DeepTech startups such as GalaxEye to complement its capabilities and jointly co-create next-generation solutions bringing the power of SpaceTech to help its clients navigate their business transformation.

Incubated at IIT Madras and based out of Bangalore, GalaxEye (www.galaxeye.space) is a SpaceTech startup for Earth Observation. GalaxEye is building multi-sensor (Synthetic Aperture Radar + Multi Spectral Imaging) satellites and synchronization platform. This generates comprehensive all-weather, high-resolution and intuitive datasets.

The technology and the datasets potentially benefit various industries such as defense, insurance, logistics, utilities, infrastructure, agriculture, disaster management and mining.

Shares of Infosys Limited was last trading in BSE at Rs. 1894.15 as compared to the previous close of Rs. 1892.35. The total number of shares traded during the day was 260296 in over 10634 trades.

The stock hit an intraday high of Rs. 1924.20 and intraday low of 1878.25. The net turnover during the day was Rs. 493850245.00.

Source : Equity Bulls

Keywords

Infosys INE009A01021 INFY Investment SpaceTechStartup GalaxEye InfosysInnovationFund