SpaceTech Startup SatSure Raises $15 Mn In Funding
SatSure, a Bengaluru-based space tech startup, has raised USD 15 million in equity capital and venture debt led by Baring Private Equity Partners and Promus Ventures. With this, the spacetech startup has successfully concluded the Series A funding round.
Omidyar Network India and xto10X, along with existing investors like Force Ventures, Luckbox Ventures, and IndigoEdge Advisors, also actively participated in the funding round.
As the startup, the freshly raised funds will be used to launch a fleet of four high-resolution optical and multispectral satellites by the fourth quarter of 2025.
Also, the funds will be partially directed toward accelerating product innovation and expanding operations across the Americas and Asia-Pacific regions.
SatSure | Earth Observation Data and Analytics Startup
Founded by former ISRO scientists Prateep Basu, Rashmit Singh Sukhmani, and Abhishek Raju in 2017, SatSure is a Bengaluru-based startup that specializes in Earth observation data and analytics solutions.
The startup harnesses satellite imagery and AI to provide actionable intelligence from space and holds promise for diverse industries such as agriculture, banking, and critical infrastructure.
Speaking about the development, Prateep Basu, Founder and CEO of SatSure, said,
“We are thrilled to have such a great group of investors who are supporting us in the journey towards becoming a full stack Earth observation data player.”
The Bengaluru-based space tech 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.
According to Prateep, SatSure is committed to expanding its outreach and investing in low-earth orbit satellite assets. SatSure will continue to develop innovative products that signify the rise of the Indian private space sector and its deep-rooted alignment with our national space program, added Prateep.
The funding has come at a time when there is increasing significance of India’s space tech companies, further boosted by the Indian Space Research Organisation’s recent success with Chandrayaan-3′s soft landing.
Last year, in May, SatSure acquired Philadelphia-based geospatial services provider Old City Innovations (formerly Geospoc LLC). In February 2022, SatSure raised $5 million in a pre-Series A funding round led by Baring Private Equity India and ADB Ventures, the Asian Development Bank’s venture arm.
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