SatSure, a spacetch business, announced that it has raised $15 million in its Series A investment, which included both stock and debt.
Baring Private Equity Partners India and Promus Ventures led the funding round. Omidyar Network India and x to10x also participated, as did current investors Force Ventures, Luckbox Ventures, and IndigoEdge Advisors, according to the startup.
SatSure intends to use the additional capital to drive product innovation and expand its operations in the Americas and Asia-Pacific regions. The Bengaluru-based spacetech business offers ‘decision intelligence’ across the BFSI, agriculture, and infrastructure sectors by leveraging satellite data.
Commenting on the fundraise, SatSure founder and CEO Basu said, “We are committed to expand our outreach, invest in low-earth orbit satellite assets, and continue developing innovative products that signifies the rise of the India private space sector and its deep rooted alignment to our national space program.”
SatSure is an advanced decision analytics company headquartered in Bangalore, India, with operations in Philadelphia, Pennsylvania, and Liverpool, England. At SatSure, we use improvements in satellite technology, machine learning, and big data analytics to solve large-scale issues about agriculture, infrastructure, and climate change.
SatSure’s technology enables the integration of satellite images with weather, IoT, social, and economic datasets, among others, to produce immediate, location-specific actionable insights. The core team’s backgrounds include geoinformatics, machine learning, software engineering, and financial technology.