SatSure, a satellite Earth observation data and analytics company has secured a $15 million investment in a Series A funding round. This significant financial infusion was spearheaded by Baring Private Equity Partners (BPEP) and Promus Ventures.
The investment will boost the company’s plans to launch a fleet of four high-resolution optical and multispectral satellites by the fourth quarter of 2025.
The funding round also saw the continued involvement of existing supporters including Force Ventures, Luckbox Ventures, and IndigoEdge Advisors. Furthermore, Omidyar Network India and xto10X joined the lineup of investors, affirming the widespread interest and confidence in the approach to using satellite imagery and AI for delivering decision intelligence across industries.
“We are committed to expanding our outreach, invest in Low-earth orbit satellite assets, and continue developing innovative products that signify the rise of the India private space sector and its deep-rooted alignment to our national space program,” said CEO and Founder Prateep Basu, who is also a former ISRO scientist.
The recent investment not only validates SatSure’s business model but also serves as a stepping stone for its future expansion plans.
A significant portion of the funding will be allocated towards accelerating product innovation. Additionally, the expansion of operations across the Americas and Asia-Pacific regions is a testament to SatSure’s commitment to making its solutions more accessible on a global scale.
Diverse Use Case
Since its inception in 2017, SatSure has been at the forefront of leveraging advanced satellite imagery and AI technologies to provide valuable insights for diverse sectors such as agriculture, banking, and critical infrastructure. Their technology has enabled improvements in operational efficiency, policy decision-making, and overall profitability for their clientele by synergizing the power of satellite data with cutting-edge AI algorithms.
The company has aided planning and evacuation efforts during disasters like the Kerala floods. They also emphasise a proactive approach, and take initiative to assist even without direct requests.
“We take responsibility in doing it ourselves, so even if the requests are not coming directly, we typically try to either go to the state governments or do it ourselves,” said, Divya Sharma, Vice President of ML and Data Analytics at the company.
For instance, in Haryana, they assessed flood impact on paddy fields, leading to export bans on non-basmati rice due to losses. She explained that their use of satellite data enables them to anticipate such trends in advance, preventing reactive responses. They also collaborated with the state of Kerala, leveraging their tools and capabilities to aid evacuation planning and provide timely insights during emergencies.
The investment comes within weeks of the successful landing of Chandrayaan 3 by the nation’s space research organisation ISRO, underlining the increasing interest in the Indian space sector.