SatSure, a Bengaluru, India-based deep tech, decision intelligence company, closed a Series A round of $15 million in equity capital and venture debt.
SaaS Investors
The round was led by Baring Private Equity Partners (BPEP) in India and Promus Ventures. Other participants include Omidyar Network India and xto10X. The company's existing investors, including Force Ventures, Luckbox Ventures, and IndigoEdge Advisors, also took part in this round.
Baring Private Equity Partners India is a private equity firm that focuses on investing in companies operating in the healthcare, real estate, banking, financial services, insurance, energy, infrastructure, and consumer goods sectors. The firm was founded in 1998 and is based in Gurgaon, India.
Promus Ventures is a venture capital firm based in Chicago, Illinois. Founded in 2012, the firm prefers to invest in early-stage companies focused on analytics, data-driven products and services, mobile, digital media, tools, and connected web sectors.
SatSure Use of Series A Funds
The newly secured funds will be allocated to several key initiatives. First, they will support SatSure's plan to launch a fleet of four high-resolution optical and multispectral satellites. This launch is scheduled for the fourth quarter of 2025.
Additionally, the funds will be used to accelerate product innovation, further developing their AI-powered decision intelligence solutions. The company aims to expand its operations across the Americas and the Asia-Pacific regions.
About SatSure
Founded in 2017, SatSure is a deeptech, decision Intelligence company headquartered in Bangalore, India. Leveraging satellite imagery and AI, SatSure provides valuable insights to industries such as agriculture, insurance, and infrastructure. Their solutions empower clients to make data-driven decisions and drive sustainable development.
Funding Details
Company: Satsure Analytics India Private Limited
Raised: $15.0M
Round: Series A
Funding Month: August 2023
Lead Investors: Baring Private Equity Partners (BPEP) in India and Promus Ventures
Additional Investors: Omidyar Network India, xto10X, Force Ventures, Luckbox Ventures, and IndigoEdge Advisors
Company Website: https://satsure.co/
Software Category: DeepTech Solutions
Source: https://www.prnewswire.com/news-releases/satsure-raises-15-million-in-series-a-round-led-by-baring-private-equity-partners-india-and-promus-ventures-301913740.html