SatSure, a Bengaluru based startup that works at the intersection of spacetech, Artificial Intelligence (AI), and Software as a Service (SaaS), has raised USD 5 million in Pre-Series A led by Baring Private Equity India Pvt. Ltd. lowstate VC, Force Ventures, IndigoEdge Advisors, Toch.ai, Nishchay Goel and Saikiran Krishnamurthy participated in the round.
The fresh funds will be used to expand SatSure’s footprint in Southeast Asia and accelerate the development of a product that includes launching proprietary payloads to Low Earth Orbit.
“SatSure’s powerful analytics platform that combines satellite technology and operational data to minimise lending risk is unique and best placed to offer actionable and timely insights. Its proprietary AI-powered modelling empowers financial institutions to issue credit and insurance policies faster, in higher volume, and on less conservative terms, which unlocks financing for smallholder farms. We’re thrilled to partner with SatSure as the company expands its footprint in South and Southeast Asia,” said Jugnu Pati, Investment Specialist at ADB Ventures.
SatSure offers three main decision intelligence products:
1) SatSure Sparta: A platform for providing agriculture and climate-related insights as an open innovation, freemium model.
2) SatSure SAGE: Life cycle risk monitoring and business intelligence platform for agriculture financial services.
3) SatSure SKIES: High-resolution satellite imagery-based infrastructure change detection platform.
SatSure was founded in 2017 by IIST and 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.
