ideaForge Technology, a drone manufacturer based in Navi Mumbai, has acquired a minority stake in the spacetech startup GalaxEye Space for Rs 8.28 crore, approximately $1 million. This move aims to bolster ideaForge’s capabilities in developing advanced sensors for unmanned aerial vehicles (UAVs) operating in challenging conditions.
The acquisition follows GalaxEye’s collaboration with Innovations for Defence Excellence (iDEX) to develop cutting-edge multi-sensor fusion systems tailored for miniature satellites serving the Indian Air Force (IAF).
According to an exchange filing by ideaForge, the company has entered into agreements to acquire Series A Compulsory Convertible Preference Shares of GalaxEye Space Solutions Private Limited. This strategic investment underscores ideaForge’s commitment to expanding its technological footprint in the UAV sector.
GalaxEye, founded in 2020 by alumni of IIT Madras and professor S. R. Chakravarthy, specializes in building the world’s first multi-sensor imaging satellites. These satellites enable governments, defense sectors, and industries to conduct advanced geospatial analyses using indigenous technology.
Headquartered in Bengaluru, GalaxEye boasts a team of over 50 professionals, including experts from prestigious institutions like ISRO and IITs. Their expertise is pivotal in developing state-of-the-art satellite technology that enhances national security and industrial applications.
ideaForge plans to leverage GalaxEye’s sensor technology to enhance its UAV capabilities. Specifically, the focus will be on developing sensors capable of penetrating fog and foliage, crucial for operations in environments where visibility is limited or obstructed.
This collaboration aims to integrate GalaxEye’s sensing solutions into ideaForge’s UAVs, thereby improving their performance in complex terrains and adverse weather conditions. The partnership aligns with ideaForge’s strategy to innovate and deliver robust solutions for defense and civilian applications.
In September 2023, ideaForge and GalaxEye initiated a joint project to develop an unmanned aerial vehicle equipped with Foliage Penetration Radar for India’s security forces. This initiative underscores their shared commitment to advancing technological frontiers in defense and aerospace sectors.
Through this acquisition, ideaForge not only strengthens its position in the UAV market but also enhances its technological capabilities to meet evolving customer needs. The collaboration with GalaxEye signifies a strategic move towards integrating cutting-edge satellite technology into UAV operations, paving the way for future advancements in aerial surveillance and reconnaissance.
So, ideaForge’s investment in GalaxEye reflects its dedication to driving innovation in UAV sensor technology. By harnessing GalaxEye’s expertise in multi-sensor imaging satellites, ideaForge aims to set new benchmarks in the unmanned aerial vehicle industry, catering to both defense and civilian sectors.
