SatSure, a Bengaluru, India-based startup working at the intersection of spacetech, Artificial Intelligence (AI), and Software as a Service (SaaS), announced that it raised $5 million in pre-Series A funding.
The round was led by Baring Private Equity India Pvt. Ltd., who have now been joined by ADB Ventures (Asian Development Bank's venture arm). Other investors who participated in the round are Flowstate VC, Force Ventures, IndigoEdge Advisors, Toch.ai, Nishchay Goel and, Saikiran Krishnamurthy.
SatSure will use the proceeds of this funding towards expanding its footprint in Southeast Asia and accelerating its product development, which also includes launching its proprietary payloads to Low Earth Orbit.
Company: SatSure Analytics India Pvt Ltd.
Raised: $5.0M
Round: pre-Series A
Funding Month: February 2022
Lead Investors: Baring Private Equity India Pvt. Ltd.
Additional Investors: Flowstate VC, Force Ventures, IndigoEdge Advisors, Toch.ai, Nishchay Goel and, Saikiran Krishnamurthy
Company Website: https://www.satsure.co/
Software Category: Decision Intelligence Solutions
About the Company: Founded in 2017 by the Indian Institute of Space science and Technology (IIST) and Indian Space Research Organisation (ISRO) alumni Prateep Basu, Rashmit Singh Sukhmani, along with Abhishek Raju, SatSure leverages satellite data, remote sensing, Artificial Intelligence, and big data analytics to provide decision intelligence solutions to the Banking, Financial Services, and Insurance (BFSI) sector. SatSure's value to the BFSI segment lies in the sustainability nexus of agriculture, infrastructure, and climate change.SatSure offers three main decision intelligence products: a) SatSure Sparta: a platform for providing agriculture and climate-related insights as open innovation, freemium model; b) SatSure SAGE: life cycle risk monitoring and business intelligence platform for agriculture financial services; c) SatSure SKIES: high-resolution satellite imagery-based infrastructure change detection platform.
Source: https://www.prnewswire.com/in/news-releases/satsure-raises-pre-series-a-round-of-us-5-million-in-funding-from-baring-pe-india-adb-ventures-and-others-806623186.html