Investment to accelerate indigenous imaging technology development and expand capabilities for space and defence applications
Ahmedabad: GVFL has led a ₹3.7 crore seed funding round in SpectraGaze Systems Private Limited, an Ahmedabad-based deep-tech startup developing optical imaging sensors and electro-optical payloads for space, defence and scientific applications. The round also saw participation from angel investors and marks the startup’s first external fundraise after three years of customer-funded growth.
Founded in 2023 by Arup Banerjee, a former ISRO scientist with 23 years of experience, SpectraGaze is developing indigenous imaging technologies to reduce India’s reliance on imported detectors.
The company’s customers include ISRO, the Physical Research Laboratory (PRL) and Kaynes Technology India Limited. Its key milestones include delivering an infrared detector and test system to ISRO, securing an image sensor development contract for ISRO’s next-generation HRSAT programme in partnership with AMETEK, and winning the iDEX PRIME Challenge for the indigenous development of an Infrared Detector Dewar Cooler Assembly, including the infrared detector.
Mihir Joshi, Managing Director, GVFL, 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.”
Arup Banerjee, Founder, SpectraGaze Systems, said, “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. 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.”
The funding will support product development, execution of existing customer programmes, engineering team expansion, testing infrastructure upgrades and business development. SpectraGaze is also developing a hyperspectral imaging camera for a 3U satellite, scheduled for delivery to Kaynes Technology in November 2026.
The company’s roadmap includes imaging solutions for Earth observation, space-based intelligence, surveillance and reconnaissance, greenhouse-gas emission mapping and drone-based hyperspectral imaging.
The investment comes amid growing opportunities for Indian deep-tech startups to develop specialised technologies for domestic and international space and defence markets.
