India, Sept. 25 -- Spacetech startup GalaxEye has secured Rs.63.84 Cr in financial support under the Centre's Research, Development and Innovation (RDI) Fund to develop its next-generation multisensor satellite technology.

The Technology Development Board (TDB), under the Department of Science and Technology (DST), has signed an agreement with the Bengaluru-based startup to provide the support through optionally convertible debentures.

The project has a total approved cost of Rs.247.69 Cr, the Centre said in a statement. It aims to develop an indigenous satellite capable of OptoSAR imaging at a resolution finer than 0.5 metres. The project will take the technology from Technology Readiness Level (TRL) 6 to TRL 9, progressing from a demo...