Ahmedabad-based SpectraGaze Systems, a deeptech startup that builds optical imaging sensors and electro-optical payloads for space, defence and scientific use, has raised Rs 3.7 crore in a seed round led by venture capital firm GVFL.

Angel investors also took part in the round. It is the startup's first external fundraise, after three years in which it ran on money from customer programmes.

SpectraGaze was founded in 2023 by Arup Banerjee, a former ISRO scientist with 23 years of experience. SpectraGaze Systems Private Limited was incorporated in Ahmedabad on 19 May 2023. Its stated aim is to build imaging technology in India and reduce the country's dependence on imported detectors.

The startup said the funding will be used for product development, delivering on existing customer programmes, expanding its engineering team, upgrading its testing infrastructure and 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.

Mihir Joshi, MD of 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, ” Joshi said.

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