PierSight, a pioneering start-up in the field of ocean surveillance, has raised $600K in a pre-seed round led by All In Capital.
Along with an investment of $200K from All In Capital, the round also saw participation from entrepreneurs, and angel investors such as Andreas Klinger, Vismay Agrawal, and Nikunj Jalan, amongst others. The globally renowned early-stage start-up investment firm and accelerator Techstars also participated in the round.
Speaking on the funding, Gaurav Seth, Co-founder & CEO, PierSight said, “Our engagements span a diverse spectrum of clients, encompassing island nations, government commerce divisions, and environmental agencies, all of whom share a pressing concern about the pervasive exploitation of Exclusive Economic Zones. Our innovative approach combines Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) technologies deployed via satellite, providing a comprehensive solution to address this complex problem.”
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.
PierSight will deploy funding towards advancing its satellite subsystems by strengthening its talent pool and procuring essential electronic components for integration and comprehensive testing. One of PierSight’s top-most priorities is to enhance its Technology Readiness Level. In addition, it is also looking to partner with social and environmental agencies for solutioning, developing prototypes, and collaboration on studies.
Commenting on the investment, Kushal Bhagia, Founder, All In Capital, said “Maritime surveillance presents an immense global challenge due to widespread issues such as illegal fishing, contraband smuggling, terrorism, and environmental offences like oil spills. Monitoring activities across the vast expanses of the ocean is a monumental task for humans alone. Therefore, we were incredibly enthused to learn about PierSight's innovative solution to this problem — commercialising defence technology like Synthetic Aperture Radar (SAR) to oversee every vessel, everywhere, around the clock. PierSight stands out as an extraordinary combination of profound technical expertise and sharp business insight. We are particularly excited about their pioneering approach in harnessing defence technology, specifically SAR, to achieve persistent ship monitoring.”
Over the next two years, PierSight is poised to achieve a groundbreaking milestone with the launch of the world's first commercial satellite integrating SAR and AIS capabilities. This significant advancement in technology will enable the start-up to monitor maritime activity with unprecedented frequency, offering 30-minute intervals of real-time visibility at sea. PierSight’s commitment to this endeavour is fully aligned with the United Nations’ Sustainable Development Goal 14, which underscores the importance of conserving and sustainably utilising oceans and marine resources for the benefit of present and future generations.
Co-founded by Kushal Bhagia and Aditya Singh, All In Capital has a track record of backing over 40 start-ups at their earliest stages in the past year. Their founder-centric approach and unwavering commitment to providing invaluable support align perfectly with PierSight's vision and goals.
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. PierSight is being built by Gaurav Seth (Ex-ISRO) and Vinit Bansal (Ex-National Instruments).
All In Capital, a leading player in the early-stage investment landscape is dedicated to nurturing Indian entrepreneurs at the pre-seed stage. Co-founded by Kushal Bhagia and Aditya Singh, All In Capital's approach is underpinned by a commitment to fostering a founder-centric culture, placing a premium on providing invaluable support where it truly matters. They have backed 40+ companies since last year as their earliest believers. Looking ahead, All In Capital is poised to identify and invest in 20 of the most promising companies in the next 12 months.
Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)
Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.
Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get allIndian statups news at Viestoires.
Weekly Startups Funding News [25 October 2024 - 29 October 2024]
Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding
Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.
GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.
Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.
Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
Omnivore Funding News - Omnivore’s third fund, the Omnivore Agritech and Climate Sustainability Fund, received $5 million in investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) Group.
Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.
Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.
11 September 2024 - Funding News
Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.
Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.
Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).
10 September 2024 - Funding News
Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.
Nestasia Funding News - Nestasia, a lifestyle and home décor brand, secured $8.35 million in a new funding round from Susquehanna Asia VC, Stellaris Venture Partners, and angel investors.
Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.
AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.
Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.
9 September 2024 - Funding News
Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.
2 September 2024 Monday - Latest Funding News in India
Mintifi Funding News- Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.
Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.
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