Space industry
SpectraGaze plans imaging expansion with ₹3.7 crore seed funding
The Ahmedabad company intends to expand engineering and testing; funding reports identify GVFL as the lead investor and also name angel participation.
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Ahmedabad-based SpectraGaze Systems plans to expand product development, engineering and testing after a ₹3.7 crore seed round led by GVFL, YourStory reported on October 23. The company develops optical imaging sensors and electro-optical payloads for space, defence and scientific applications.
Angel investors also participated in the round. India Technology News described it as the company's first external fundraise after three years of customer-funded growth. Its report carries comments from SpectraGaze founder Arup Banerjee and GVFL managing director Mihir Joshi.
The stated spending priorities include executing existing customer programmes, enlarging the engineering team, upgrading testing infrastructure and business development, according to India Technology News. These are intended uses of the investment; the report gives no allocation by activity.
YourStory identifies Banerjee as a former scientist at the Indian Space Research Organisation who founded SpectraGaze in 2023. It also describes a hyperspectral imaging camera under development for a small satellite; it does not establish delivery.
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The Ahmedabad company intends to expand engineering and testing; funding reports identify GVFL as the lead investor and also name angel participation. Read the full report: https://www.spaceexploration.in/news/spectragaze-gvfl-seed-funding #SpaceExplorationNews #SpaceNews #SpaceIndustry
