SatSure, a Bengaluru-based spacetech startup involved in building decision insights using data from satellites for the banking and insurance sectors, has raised an undisclosed amount of equity funding in a round led by Baring Private Equity India.
The startup plans to use the freshly raised funds for expanding its team to 100 people by March 2022, growing its product portfolio, and increasing its international business footprint. Additionally, SatSure is also looking to capitalise on its high-resolution optical and multispectral payload demonstration mission in orbit that was announced earlier this year.
SatSure | Decision Intelligence From Space
Founded by Prateep Basu, Rashmit Singh Sukhmani, and Abhishek Raju in 2017, SatSure is an innovative decision analytics company. The startup leverages advances in satellites, machine learning and big data analytics to provide answers to large area questions across the sustainability next of agriculture, infrastructure, and climate action.
Speaking on the development, Prateep Basu said,
“Over the last four years, we have developed products for various markets where intelligence derived from space data forms the core of the offering, which is globally scalable, proving that such a business can be built sustainably. Our vision is to create a full-stack space-tech firm out of India that owns the data source, data engine, and software that shall offer simple plug and play solutions to end customers.”
SatSure provides three key offerings – SatSure Sparta, a platform for agriculture and climate insights in a freemium model; SatSure SAGE, a life cycle risk monitoring and business intelligence product for the agriculture financial services; and SatSure SKIES, a high-resolution satellite imagery-based infrastructure change detection platform.
Additionally, the Bengaluru-based spacetech startup has tie-ups with companies like ICICI Bank, Reliance General Insurance, and Samunnati Finance, among others.
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