Satim, a Kraków, Poland-based company, secured €1.8 million in funding to further advance its AI-based software designed for automatic object detection, identification, and classification using satellite Synthetic Aperture Radar (SAR) imagery.
The round was led by Cultivation Capital, with participation from Verissimo Ventures, The Flying Object, Everywhere Ventures, Hustle Fund, Startupist Ventures, and an undisclosed investor from Eastern Europe.
The primary objective of this investment is to propel Satim's goal of revolutionizing the transformation of intricate satellite SAR data into actionable insights, with a specific focus on serving the military, government, and commercial maritime sectors.
This financial backing will enable Satim to enhance its technology and capabilities, thereby increasing its capacity to deliver highly accurate and valuable information to its clientele.
“I am thrilled and grateful to have the backing of such exceptional investors in our latest funding round. As we continue to attract significant interest from various quarters, this investment round will be instrumental in streamlining our operations and facilitating the seamless delivery of cutting-edge software to our customers,” said Jacek Strzelczyk, CEO of Satim.
Satim's software, SATREC, is renowned globally for its exceptional automatic object detection, identification, and classification capabilities utilizing satellite SAR imagery.
Company: Satim, Inc.
Raised: €1.8M
Round: Unknown
Funding Month: August 2023
Lead Investors: Cultivation Capital
Additional Investors: Verissimo Ventures, The Flying Object, Everywhere Ventures, Hustle Fund, and Startupist Ventures
Company Website: https://www.satim.co/
Software Category: Site Monitoring and Maritime Situational Awareness
About the Company: Founded in 2012 by Stanisława Porzycka-Strzelczyk and Jacek Strzelczyk, Satim provides AI-based software solutions for object detection, classification, and identification using Synthetic Aperture Radar (SAR) satellite imagery. Satim has already gained significant recognition for its 90% accurate object classification on satellite SAR imagery, providing a comprehensive solution for strategic site monitoring and maritime situational awareness.
Source: https://www.eu-startups.com/2023/08/krakow-based-satim-secures-e1-8-million-to-transform-satellite-data-into-actionable-insights-for-military-and-maritime-sectors/