Hyd startup EON Space Labs raises $1.2M in Pre-Series A funding
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Set up in 2022 by three former LV Prasad Eye Institute (LVPEI) employees—Punit Badeka, Sanjay Kumar, and Manoj Kumar Gaddam—the T-Hub and IIT-Madras incubated EON is building miniaturised, high-resolution imaging systems for use in satellites, drones, unmanned aerial systems, and fixed ground platforms. The company was also a winner of one of the iDEX (Innovations for Defence Excellence) challenges and Ramaiah Evolute.
The startup said the funds will support the launch of MIRA, touted as India's lightest high-res space telescope that is three to four times lighter and smaller than currently available space telescopes, later this year in a mission in collaboration with another Hyderabad-based startup, TakeMe2Space, that plans to launch India's first AI laboratory in space aboard Indian Space Research Organisation's launch vehicle.
"MIRA is a monolithic telescope that has been manufactured using ultra-precision technology and is made from a single piece of fused silica glass, a space-qualified material. We reduced the moving components into one single block of pure silica glass," Badeka said.
The fundraise will also help fund the launch of four new LUMIRA electro-optical and infrared (EO/IR or day & night) imaging systems designed for long-range detection of humans, vehicles, threats, and UAVs to enhance surveillance capabilities for both drone and ground-based platforms for surveillance and disaster response.
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The LUMIRA variants will target up to 85% of the use cases in the global EO/IR surveillance market, which is currently pegged at around $11 billion. EON already bagged multiple commercial orders for LUMIRA following successful proof of concept demonstrations.
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