Ahmedabad-based deeptech startup SpectraGaze Systems has raised ₹3.7 crore in a seed funding round led by venture capital firm GVFL, with participation from angel investors. The company develops optical imaging sensors and electro-optical payloads for space, defence and scientific applications. The funding marks its first external investment after 3 years of operating through customer-funded programmes.
Founded in 2023 by Arup Banerjee, a former ISRO scientist with 23 years of experience, SpectraGaze aims to develop imaging technologies in India and reduce dependence on imported detectors. SpectraGaze Systems Private Limited was incorporated in Ahmedabad on 19 May 2023.
The company will use the funds for product development, fulfilling existing customer programmes, expanding its engineering team, upgrading testing infrastructure and strengthening business development.
“Our focus has been on developing indigenous imaging technologies that address critical requirements in space and defence applications. Building the business through customer-funded programmes has helped us validate our technology and establish strong industry relationships,” Banerjee said.
“This investment will enable us to accelerate product development, strengthen our engineering capabilities and take our solutions to a wider set of applications and customers,” he added.
GVFL Managing Director Mihir Joshi said SpectraGaze “has built a strong technology foundation through customer-funded programmes and established relationships with key institutional customers.”
“Our investment will support the company in strengthening its engineering capabilities, advancing product development and expanding its commercial presence across India’s space and defence sectors,” Joshi said.
The startup’s customers include the Indian Space Research Organisation (ISRO), the Physical Research Laboratory (PRL) and Kaynes Technology India Limited. It has delivered an infrared detector and a test system to ISRO. It has also secured an image sensor development contract with AMETEK for ISRO’s next-generation HRSAT programme.
HRSAT is a high-resolution Earth observation constellation designed to support mapping, agriculture, urban planning, infrastructure development and disaster management. Initially planned as 3 satellites for a February 2019 launch, the programme has since been reduced to 2 satellites, HRSAT 1A and HRSAT 1B. Both are scheduled for a joint launch aboard a PSLV rocket in 2027, with a planned panchromatic imaging resolution of approximately 1 metre.
In the defence sector, SpectraGaze won the iDEX PRIME Challenge to develop an indigenous Infrared Detector Dewar Cooler Assembly, including the infrared detector itself. The challenge, issued by India Optel Limited under the iDEX PRIME X round, specifically requires the development of an infrared detector that is not currently manufactured in India.
The company is also developing a hyperspectral imaging camera for a 3U satellite, which is scheduled for delivery to Kaynes Technology in November 2026.
Kaynes established its wholly owned subsidiary, Kaynes Space Technology, in June 2025 to design and manufacture satellites and mission-specific payloads. During its Q1 FY27 earnings call, the company said its first 3U satellite was in the prototype stage, with a launch targeted for mid-2027.
SpectraGaze’s product roadmap includes imaging solutions for Earth observation, space-based intelligence, surveillance and reconnaissance, greenhouse gas emission mapping and drone-based hyperspectral imaging.
According to Tracxn data, Indian spacetech startups had raised approximately $871 million across 241 funding rounds as of July 2026. The sector secured a record $200 million across 53 rounds in 2025, followed by approximately $113 million across 24 rounds in 2026 through July.
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