SatSure, a pioneering provider of satellite Earth observation data and analytics, has successfully concluded a Series A funding round totaling $15 million in equity and venture debt. Baring Private Equity Partners (BPEP) from India and Promus Ventures are leading the round.
Notably, the investment circle has expanded to include Omidyar Network India and xto10X, joining the ranks of existing supporters including Force Ventures, Luckbox Ventures, and IndigoEdge Advisors.
Hailing from Bengaluru, this startup had previously secured $5 million in a pre-Series A funding round led by Baring Private Equity India and other contributors in February 2022. Eight months ago, it secured strategic funding from major financial institutions, including ICICI and Kotak Mahindra Bank.
The fresh infusion of funds is pivotal in SatSure’s strategic trajectory. The company is geared to propel its plan of launching a fleet of four high-resolution optical and multispectral satellites by the fourth quarter of 2025. This funding boost is poised to fuel the company’s expansion ambitions across the United States and the Asia-Pacific regions.
Established five years ago, SatSure harnesses the synergies of satellite imagery and cutting-edge AI to offer decision intelligence derived from space-based data. This translates into valuable insights spanning diverse industries, encompassing agriculture, banking, and critical infrastructure. The company’s decision analytics prowess promises amplified profitability, heightened operational efficiency, and robust policy decision-making capabilities for its clientele.
This development aligns with a broader trend of burgeoning space technology startups. Names like Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara, and InspeCity have all managed to secure substantial funding within the space tech sector.
June witnessed noteworthy funding achievements in the space tech arena. Digantara, another spacetech startup, secured $10 million in Series A1 funding, spearheaded by Peak XV Partners (formerly Sequoia Capital India) and Kalaari Capital. In the same month, Pixxel garnered an impressive $36 million in a series B funding round, attracting new investors, including Google.
