SatSure, a Bengaluru-based innovative decision analytics startup, has acquired Philadelphia-based geospatial services provider Old City Innovations (formerly Geospoc LLC) in a cash-plus-stock deal.

Making a foray into the US market, this latest acquisition comes a few weeks after SatSure bought SaaS platform CropTrails for an undisclosed amount to enter overseas markets like Africa, Latin America and Southeast Asia.

Post the acquisition, the key management personnel of Old City Innovations will be joining SatSure Analytics, which will take over the customers’ contracts and leverage OCI’s expertise to expand its geospatial analytics business footprint in the US market.

SatSure | Decision Intelligence From Space

Founded by Prateep Basu, Rashmit Singh Sukhmani, and Abhishek Raju in 2017, SatSure is an innovative decision analytics startup that 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 about the development, Prateep Basu, Founder and CEO of SatSure, said,

“The US is undoubtedly the largest market for solutions with Earth observation (EO) data at its core, and hence having our presence there is the next step in our plans to become a global force in the space industry as a full-stack EO company with a keen focus on customer’s decision intelligence. The team at OCI has deep experience in financial and technology services, and we are excited to work jointly towards creating value in the overall NAM market.”

The startup is a member of the World Economic Forum’s Global Innovators Community. In February 2022, SatSure raised $5 million in a pre-Series A funding round led by Baring Private Equity India and ADB Ventures, Asian Development Bank’s venture arm.

Headed by Archie Menezes and Cara Kolson, Old City Innovations was set up in 2014 and has been providing geospatial services across mortgage, agriculture, insurance and drone markets in the US.

Commenting on the acquisition, Archie Menezes, President of OCI, said,

“We will continue servicing our existing customers while expanding the footprint of our business with the diverse offerings that SatSure has, especially at the intersection of the infrastructure and climate resilience sectors.”

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