[Funding alert] Spacetech Startup SatSure Raises Equity Funding

As part of its Series A funding round spacetech firm SatSure has secured an undisclosed amount of money. Promus Ventures and Baring Private Equity Partners (BPEP), India, are co-leading the round.

In exchange for a minority purchase, TransUnion also supported the business in the round. The startup’s ability to innovate its products will be enhanced by the most recent funding.

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Mr. Prateep Basu, Founder & CEO of SatSure, commented “We have been working with TransUnion and TransUnion CIBIL since 2022, and are delighted to have them as an investor in SatSure. This investment is a testament of our shared commitment to leveraging technology to drive financial inclusion in the agriculture finance landscape. With TransUnion’s support, we are poised to not only enhance our joint product development for the Indian market, but also to address the unique challenges of farmer credit access across the globe.”

In 2022, TransUnion CIBIL and SatSure collaborated to jointly introduce the CIBIL Credit & Farm Report (CCFR), which offers credit institutions that provide agricultural loans to farmers a single point of access to credit data, crop insights, and land information.

“TransUnion is committed to helping people across the globe gain access to opportunities that can improve their quality of life. Our investment in SatSure leverages our expertise in information and insights and SatSure’s prowess in building advanced earth intelligence platforms. We expect that our combined insights will provide financial institutions with the capabilities to assess and provide access to finance for millions of farmers, agricultural and allied sector professionals and drive sustainable financial inclusion in India,” said Mr. Rajesh Kumar, MD and CEO of TransUnion CIBIL, a TransUnion group company.

About SatSure

With its headquarters in Bangalore, India and offices in Philadelphia, Pennsylvania, and Liverpool, United Kingdom, SatSure is a cutting-edge decision analytics firm. At SatSure, they use developments in big data analytics, machine learning, and satellite technology to address broad problems about climate change, infrastructure, and agriculture sustainability.

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