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HomeInsightFunding Alert Spacetech Startup PierSight Secures $6 Mn from Alpha Wave, Elevation Capital

[Funding alert] Spacetech Startup PierSight Secures $6 Mn from Alpha Wave, Elevation Capital

Spacetech firm PierSight, which focuses on maritime tracking, secured $6 million in initial funding backed by Elevation Capital and Alpha Wave Global.
L-R_Gaurav Seth & Vinit Bansal, Co-founders, PierSight

Spacetech firm PierSight, which focuses on maritime tracking, secured $6 million in initial funding backed by Elevation Capital and Alpha Wave Global.

The additional funds are going to be used to build and launch demonstration and operational satellites, hire more staff members, and buy and test essential hardware.

Read also – [Funding alert] Edtech Startup Ambitio Secures Pre-seed Funding

Co-founded by Gaurav Seth (Ex-ISRO) and Vinit Bansal (Ex-National Instruments), PierSight is on a mission to provide persistent ocean surveillance through a constellation of Synthetic Aperture Radar (SAR) Imaging and Automatic Identification System (AIS) satellites.

By 2024, the Ahmedabad-based company wants to use ISRO’s PSLV Orbital Experimental Module (POEM) to test its technologies, as reported by The Economic Times.

Read also – [Funding alert] Fintech Startup Mylapay Secures Rs 4.6 Cr Seed Funding

The Coast Guard, oil and gas, insurance, shipping, and other industries that depend on marine intelligence will benefit from its solutions.

About PierSight

PierSight provides persistent ocean surveillance through a constellation of Synthetic Aperture Radar (SAR) Imaging and AIS satellites. SAR allows for high-precision imaging in all weather conditions and even at night.

Read also – [Funding alert] Glamplus Raises 16.5 Cr in Pre-Series A Round From Upsparks, Eagle10 Ventures, ITI Growth Opportunities Fund & Inflection Point Ventures

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