<ul><li>The company’s flagship product offering features multi-sensor imagery via modern satellites. </li><li>The startup will use the fresh funding to bolster the hiring of top talent and help launch the world's first multi-sensor satellite for earth observation. </li><li>The India <keyword id="718929" type="General" weightage="20" keywordseo="space-exploration" source="Orion">space exploration</keyword> industry is expected to hit $13 billion by 2025.</li></ul><keyword id="11360719" type="General" weightage="100" keywordseo="galaxeye" source="Orion">GalaxEye</keyword> Space, an Indian spacetech start-up focused on earth observation, announced on Thursday that it has successfully raised a $3.5 million round of seed funding led by <keyword id="15793055" type="General" weightage="50" keywordseo="special-invest" source="Orion">Special Invest</keyword>, a deep-tech venture capital firm. The new round also had participation from Artha India Ventures, <keyword id="14083005" type="General" weightage="50" keywordseo="veda-vc" source="Orion">Veda VC</keyword>, Anicut Capital, Upsparks and a consortium of entrepreneurs including Nithin Kamath (Founder/CEO of Zerodha), Prashant Pitti (Founder/CEO of EaseMyTrip), Abhishek Goyal (Founder/CEO of Tracxn) and Ganpathy Subramaniam (Partner at Celesta Capital). The company’s flagship product offering features multi-sensor imagery via modern satellites and data fusion technology, developed in-house. GalaxEye’s technology will enable the production of images with extremely high resolution via a small satellite constellation that, once fully operational, will provide global coverage in under 12 hours. “We are truly the first Indian space start-up incorporated in India to build an imaging satellite and we are committed to accelerating technological innovation in India for the world,” Suyash Singh, co-founder &amp; CEO, GalaxEye Space said. India’s private space exploration has taken a huge lift-off, especially in the past two months. In October this year, the Indian Space Research Organisation (<keyword id="6358064" type="General" weightage="20" keywordseo="isro" source="Orion">ISRO</keyword>) launched 36 communications satellites of London-based communications company, OneWeb. Hyderabad-based spacetech startup, <keyword id="7537495" type="General" weightage="20" keywordseo="skyroot-aerospace" source="Orion">Skyroot Aerospace</keyword>, also created India’s first privately built rocket Vikram-S, which was launched by ISRO in November this year. In fact, the country’s space exploration space is expected to reach a valuation of $13 billion by <a href="https://economictimes.indiatimes.com/opinion/et-commentary/indias-space-exploration-sector-will-potentially-hit-13-billion-by-2025-making-it-ripe-for-startups/articleshow/96180161.cms">2025</a>. GalaxEye will soon launch its first satellite as well, denoted as "Drishti Mission". The company also stated that it will use the fresh funding for hiring top-tier talent and accelerating the launch of the world's first multi-sensor satellite for earth observation. “Next year is crucial for us, as we aspire to reach space with our satellite and become the leader in multi-sensor imaging for the industry. We will be seeking an additional round of funding of the order of $15-25 million in 2023 to add more satellites to our constellation,” added Singh. Founded in 2020, GalaxEye is the brainchild of entrepreneurs emerging from <keyword id="7762552" type="General" weightage="50" keywordseo="avishkar-hyperloop" source="Orion">Avishkar Hyperloop</keyword>, a team of scientists brought together via global competition organized by Elon Musk’s aerospace manufacturer and space transportation services company, SpaceX. GalaxEye also announced availability of the company’s flagship product offering, featuring multi-sensor imagery via modern satellites. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/will-be-lucky-if-we-grow-5-next-year-says-former-rbi-governor-raghuram-rajan/articleshow/96249572.cms">Will be lucky if we grow 5% next year says former RBI governor Raghuram Rajan</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/how-many-startups-turned-unicorns-in-2022-in-india-check-out-the-list/articleshow/96248261.cms">New Indian unicorns get rarer in 2022 as funding winter sets in</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/bumble-reveals-upcoming-dating-trends-in-2023/slidelist/96243427.cms#slideid=96244109">Inter-city love, better boundaries &amp; rise of divorced singles: Bumble reveals upcoming dating trends in 2023</a>

Indian spacetech startup GalaxEye raises $3.5 million in seed round

<keyword id="11653718" type="UNKNOWN" weightage="20" keywordseo="team-avishkar">Team Avishkar</keyword> of the <keyword id="55119" type="ORGANIZATION" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (<keyword id="6354859" type="UNKNOWN" weightage="20" keywordseo="IIt">IIT</keyword>) <keyword id="6357595" type="LOCATION" weightage="20" keywordseo="madras">Madras</keyword> has qualified for the European Hyperloop Week. The team, consisting of 40 students, has earned its place in the international event because of the self-propelled, autonomous hyperloop pod developed by it. Mentored by the Centre For Innovation (<keyword id="257398" type="ORGANIZATION" weightage="20" keywordseo="CFI">CFI</keyword>), <keyword id="6356755" type="ORGANIZATION" weightage="20" keywordseo="iit-madras">IIT Madras</keyword>, Team <keyword id="4121004" type="PERSON" weightage="20" keywordseo="Avishkar">Avishkar</keyword> was the only team from Asia to qualify for the finals of the SpaceX Hyperloop Pod Competition 2019, a global contest organised by Elon <keyword id="364027" type="PERSON" weightage="20" keywordseo="Musk">Musk</keyword>'s aerospace company SpaceX. It was Musk who had proposed the idea of a hyperloop in his 2013 white paper on 'Hyperloop Alpha'. Out of more than 1,600 teams participating in this prestigious cutting-edge event, Team Avishkar was among the Top 21. Hyperloop offers a new revolutionary mode of transportation -- a high-speed train that travels in a near-vacuum tube. The reduced air resistance allows the capsule inside the tube to reach speeds of more than 1,000 km/h, thereby dramatically reducing travel time across medium-range distances. Despite the challenges posed by the pandemic and the lockdowns, the 40 students of Team Avishkar collaborated with each other on the development of the Hyperloop pod from their homes. They completely revamped the pod's sub-systems with scalable and efficient technologies. In the past few months, they manufactured a Hyperloop Pod prototype and tested the novel technology. "Our research has yielded technological breakthroughs such as the linear induction motor for propulsion, a proprietary levitation technology, and contactless magnetic braking system," said Neel Balar, Team Avishkar lead and third-year student at the IIT's Department of Engineering Design. "Looking beyond the pod, the team is also focusing efforts on the design of the Hyperloop's infrastructure," he added. Explaining the importance of the infrastructure, such as tubes and pylons, Kishan Thakkar, fourth-year student at the IIT's Department of Metallurgical and Materials Engineering, said it takes up about 70 per cent of a Hyperloop corridor's budget. "Our research is focused mainly on reducing the cost of this infrastructure and adapting the Hyperloop to the needs of the Indian sub-continent," Thakkar said in a statement. "The team is truly pushing the frontiers of this technology to create a sustainable future," he added. Hyperloop has been a buzzword in India for the past few years. Several companies have proposed routes such as Mumbai-Pune and Chandigarh-Amritsar. After an initial study, Team Avishkar is working on a detailed study of energy needs, costs, demand and other aspects of a business model for a Hyperloop corridor between Bangalore and Chennai to assess the economic feasibility of the idea in India. Team Avishkar estimates that the travel time between Bangalore and Chennai can be reduced to just 30 minutes, compared with the six hours it takes today by car or train. Deloitte India has provided support to the team's efforts to make its mark at the European Hyperloop Week, which will be held in Valencia, Spain, from July 19 to 25. The team will participate virtually because of the pandemic-related travel restrictions. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/netflix-plans-to-add-video-games-to-its-categories/articleshow/84433119.cms">Netflix will reportedly add video games on its platform ‘within the next year’</a> <a href="https://www.businessinsider.in/business/corporates/news/just-dial-share-price-surge-as-mukesh-ambani-is-looking-to-buy-just-dial/articleshow/84432450.cms">As Mukesh Ambani reportedly dials in, Just Dial stocks surge 3%</a>

IIT Madras' Avishkar team qualifies for the European Hyperloop Week competition

<img class="gwt-Image" src="/photo/55556036.cms" />In its bid to build a solar India, <keyword id="6356755" type="COMPANY" weightage="20" keywordseo="IIT-Madras">IIT Madras</keyword> announced recently that it will be developing an efficient, cheap and clean way of power supply to villages using microgrids. For this, the institute has signed a MoU with power and automation technology company ABB India under government’s <keyword id="3873307" type="UNKNOWN" weightage="20" keywordseo="uchchatar-avishkar-yojana">Uchchatar Avishkar Yojana</keyword> scheme. 
 
They will be looking at developing a power management system to optimize the operation of multiple micro grids, with or without grid connection, to transmit electricity reliably to small villages. This system will also enable the integration of individual solar PV rooftops to the micro grid of a village. Such grid clusters are expected to have the capability of generating and using renewable energy locally from one kilowatt to a few hundred kilowatts. This inter-connection of micro grids with the existing distribution system will also help reduce outages and cut electricity costs. 
 
As of now, the government is looking at a generation capacity of 40 GW in the next five years through grid-connected solar photovoltaic rooftops and small scale solar PV plants. 
 
The project scope includes micro grids of 20 to 100 kW capacity equipped with battery storage. Detailed studies and simulation of the various system components along with related control and optimization logic, protection criteria, monitoring and communication will also be undertaken. 
 
"While India has set an ambitious target for solar energy generation, IIT Madras has been at the forefront in developing decentralised energy-efficient solar PV micro grid solutions tailored to meet India's urban, rural and off-grid power requirements," said Bhaskar Ramamurthi, Director of IIT Madras. 
 Meanwhile, ABB India's managing director <keyword id="222145" type="PERSON" weightage="20" keywordseo="Sanjeev-Sharma">Sanjeev Sharma</keyword> said - "In a country as huge and diverse as India, it is important to design models of integration with power management and load balancing for proven micro grids technology with the existing grid infrastructure." 
 
Interestingly, ABB’s Access to Electricity social initiative in India has already demonstrated significant impact in the country. 
 The company has brought <keyword id="70990" type="UNKNOWN" weightage="20" keywordseo="Solar-power">solar power</keyword> to 1,200 households in the Rajasthan desert and to over 100 households in the world’s largest delta region of the Sunderbans. This project follows two ongoing CSR projects with IIT-M; one for the design, installation and commissioning of a micro grid able to supply 50 kW power to a rural village, the other one to help establish and research the Center of Battery Engineering at IIT-M. 
 
ABB recently announced the setting up of India’s first solar-powered micro grid to provide uninterrupted power supply to its factories in Vadodara. 
 
With the slow but steady work by the institute, industry and the government, it seems India is not too far away from achieving its solar dream.

Building a Solar India: IIT Madras develops microgrid models for green power supply to light up remotest areas

<img class="gwt-Image" src="/photo/48248917.cms" />Mortal remains of late former Indian President <a href="http://www.businessinsider.in/searchresult.cms?query=APJ+Abdul+Kalam">APJ Abdul Kalam</a> arrived at Palam Airport in New Delhi from Guwahati on Tuesday. 
 Indian President Pranab Mukherjee, Vice-President Hamid Ansari, <keyword id="6354814" type="UNKNOWN" weightage="100" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword>, along with Three Service Chiefs paid homage to Kalam. 
 
Defence Minister Manohar Parrikar, Delhi Police Commissioner B.S. Bassi and Delhi Chief Minister Arvind Kejriwal were also present. 
 
<img class="gwt-Image" src="/photo/48249119.cms" /> 
 
Public can pay homage to the late President from 3pm onwards at 10 Rajaji Marg in New Delhi. 
 
<img class="gwt-Image" src="/photo/48249129.cms" /> 
 
The last rites will take place at Rameswaram in Tamil Nadu. 
 
People from all walks of life took to social media and paid homage to the apolitical President. Kalam led the scientific team that developed missiles able to carry India's nuclear warheads. 
 
He became a national hero after helping oversee nuclear tests in 1998 that solidified India's status as a nuclear weapons state. India's first atomic test was in 1974. 
 
Meanwhile, <a href="http://www.businessinsider.in/searchresult.cms?query=smriti+irani">Union HRD Minister Smriti Irani</a> announced Rashtriya Avishkar Abhiyan to be renamed as APJ Abdul Kalam Rashtriya Avishkar Abhiyan. 
 
Telangana Government has announced holiday, whereas the Andhra Pradesh Government has decided to work one hour extra to pay tribute to the late President. 
 
Kalam died on Monday (July 27) from a cardiac arrest at the age of 83. 
 
Kalam, popularly known as 'Missile Man', was delivering a lecture in Shillong when he collapsed and was rushed to Bethany Hospital. 
 
Kalam’s last tweet was: 
 
 
<blockquote class="twitter-tweet" lang="en">
	
		Going to Shillong.. to take course on Livable Planet earth at iim. With <a href="https://twitter.com/srijanpalsingh">@srijanpalsingh</a> and Sharma.
	— In memoryof Dr.Kalam (@APJAbdulKalam) <a href="https://twitter.com/APJAbdulKalam/status/625546195205648384">July 27, 2015</a></blockquote>
<script async="" src="//platform.twitter.com/widgets.js" charset="utf-8"></script> 
We at Business Insider have created this unique platform for anyone who wants to pay homage to this the beloved Former President, APJ Abdul Kalam- the great leader, teacher, scientist and amongst many other things a visionary par excellence, even as he embarks upon his last journey. Just click on the link to pay your respects: <a href="http://www.businessinsider.in/social/48249034.cms">http://www.businessinsider.in/social/48249034.cms</a> 
 
(Images: ANI Twitter)

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