Total amount raised
$24.6 Millions
Latest funding date
4/1/2024
Location
SatSure has successfully raised funding through multiple rounds, with its latest being a Series A round. The company leverages satellite remote sensing, machine learning, and artificial intelligence to provide decision intelligence solutions.
Keep reading to explore the intricacies of SatSure's fundraising journey and the investors backing this innovative platform.
What Is SatSure?
SatSure, founded in 2017, is headquartered in Bangalore, Karnataka, India. The company was established by Abhishek Raju, Prateep Basu, and Rashmit Singh Sukhmani.
SatSure leverages satellite remote sensing, machine learning, and artificial intelligence to provide decision intelligence solutions. Their services span various sectors, including agriculture, BFSI (Banking, Financial Services, and Insurance), infrastructure, and climate change.
With a team of 51-100 employees, SatSure continues to innovate and address global sustainability challenges through advanced technology.
How Much Funding Has SatSure Raised?
- Seed Round
- Amount Raised: ₹340M
- Date: November 2021
- Lead Investors: Baring Private Equity Partners India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and product development.
- Seed Round
- Amount Raised: $5M
- Date: February 2022
- Lead Investors: Baring Private Equity India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product development.
- Grant
- Amount Raised: ₹5M
- Date: August 2022
- Lead Investors: ANIC-ARISE
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific project initiatives.
- Series A
- Amount Raised: Not publicly disclosed
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance technology and expand market reach.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: August 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth.
- Series A
- Amount Raised: $15M
- Date: August 2023
- Lead Investors: Baring Private Equity Partners India, Promus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch a fleet of satellites and expand operations globally.
- Series A
- Amount Raised: Not publicly disclosed
- Date: April 2024
- Lead Investors: Baring Private Equity Partners Espana, Promus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further product innovation and market expansion.
Total Amount Raised: $20M
Current Valuation: Not publicly disclosed
Key Investors
- Baring Private Equity Partners India
- Details: Baring Private Equity Partners India is a leading private equity firm in India, known for investing in high-growth companies. They have been involved in multiple funding rounds for SatSure, including leading the Series A round.
- Investment Focus Areas: Technology, financial services, high-growth sectors.
- Notable Investments: Not publicly disclosed.
- Promus Ventures
- Details: Promus Ventures is a venture capital firm based in Chicago, San Francisco, and Luxembourg. They are known for investing in early-stage deep-tech companies, including those in the Space and AI sectors.
- Investment Focus Areas: DeepTech, Space, AI.
- Notable Investments: Not publicly disclosed.
- Omidyar Network India
- Details: Omidyar Network India is a social impact investment firm that supports innovative solutions to social challenges. They participated in SatSure's Series A funding round.
- Investment Focus Areas: Social impact, technology for social good.
- Notable Investments: Not publicly disclosed.
- xto10X
- Details: xto10X is a growth-stage investment firm that provides strategic support to startups. They joined as new investors in SatSure's Series A round.
- Investment Focus Areas: Growth-stage startups, strategic scaling support.
- Notable Investments: Not publicly disclosed.
- ANIC-ARISE
- Details: ANIC-ARISE is an initiative that supports innovation and entrepreneurship in India. They provided a grant to SatSure in August 2022.
- Investment Focus Areas: Innovation, entrepreneurship, technology.
- Notable Investments: Not publicly disclosed.
What's Next for SatSure?
SatSure is poised to seize significant opportunities by launching a fleet of high-resolution optical and multispectral satellites by Q4 2025. This ambitious project will enable the company to expand its operations across the Americas and Asia-Pacific regions, tapping into the growing demand for satellite imagery and AI-driven decision intelligence in sectors like agriculture, banking, and critical infrastructure.
With the successful $15 million Series A funding round, SatSure is well-positioned for future fundraising opportunities. The strategic investments from prominent firms suggest a strong potential for additional rounds to support further expansion and innovation. However, the company will need to navigate challenges such as competition from other spacetech startups, regulatory hurdles, and the complexities of managing a satellite fleet.
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