notablefinancial2026-10-24

SpectraGaze raises Rs 3.7 crore seed round led by GVFL

SpectraGaze Systems

SpectraGaze, founded by an ex-ISRO scientist, raised a Rs 3.7 crore seed round led by GVFL to build Indian infrared detectors.

// sources · 2 attached

what happened

SpectraGaze Systems, an Ahmedabad-based startup founded in 2023 by former ISRO scientist Arup Banerjee, raised a Rs 3.7 crore seed round led by venture capital firm GVFL with angel investor participation, per IndianStartupNews and a TradingView wire pickup. It is the company's first external fundraise after three years of customer-funded operations. SpectraGaze builds optical imaging sensors and electro-optical payloads, including infrared detectors, for space, defence and scientific customers; its work includes delivering an infrared detector and test system to ISRO and an image sensor development contract for ISRO's HRSAT programme, per both outlets.

why it matters

The round funds a small supplier working to cut India's reliance on imported infrared detectors, components that feed directly into ISRO's own imaging payloads; it is a marker of India's deep-tech space supply chain filling in beneath its larger prime contractors.