SpectraGaze Systems, an Ahmedabad deeptech startup led by former ISRO scientist Arup Banerjee, has raised Rs 3.7 crore in a seed funding round led by venture capital firm GVFL, the company said. Angel investors also participated in the round. This is SpectraGaze’s first external fundraise after running on customer‑funded programmes for three years.
What the funding will be used for
The startup said the capital will be directed at accelerating product development, delivering on existing customer programmes, expanding its engineering team, upgrading testing infrastructure and supporting business development. SpectraGaze makes optical imaging sensors and electro‑optical payloads intended for space, defence and scientific applications.
“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,” Arup Banerjee said.
Mihir Joshi, managing director of GVFL, highlighted the startup’s progress from customer engagements to a scalable technology foundation. GVFL described its investment as support for strengthening engineering capabilities, advancing product development and expanding commercial presence across India's space and defence sectors.
Existing customers and contracts
SpectraGaze counts the Indian Space Research Organisation (ISRO), the Physical Research Laboratory (PRL) and Kaynes Technology India Limited among its customers. The company has delivered an infrared detector and a test system to ISRO and has secured an image‑sensor development contract for ISRO's next‑generation HRSAT programme in partnership with AMETEK, the startup said.
- Founded: incorporated on 19 May 2023
- Founder: Arup Banerjee, former ISRO scientist with 23 years' experience
- Funding: Rs 3.7 crore seed round led by GVFL, with angel participation
The company framed its work as reducing India’s dependence on imported detectors by developing indigenous imaging technologies tailored to the requirements of space and defence programmes. SpectraGaze said running on customer‑funded programmes helped validate its technology and establish industry relationships prior to this external raise.
| Item | Detail |
|---|---|
| Round | Seed |
| Amount | Rs 3.7 crore |
| Lead investor | GVFL |
| Key customers | ISRO, PRL, Kaynes |
SpectraGaze’s stated priorities — product development, testing infrastructure and engineering hires — align with the typical capabilities required to move from prototype and customer‑funded deliveries to broader commercialisation in defence and space supply chains. The participation of a sector‑focused investor such as GVFL signals interest in startups building specialised hardware and sensors for India’s strategic programmes.
