As the human race continues to rapidly advance itself in the realms of tech, it has become even more important to stay ahead of the curve for all involved stakeholders. A crucial tool that helps in staying ahead of the curve, is data, and the tool only becomes usable when data analytics is done right. Satsure, a Bangalore based space-tech startup, is looking to further advance that, by combining space-tech with data analytics. And the company just landed a new $5Mn pre-Series A round from a bunch of reputed tech investors.
The round was led by Baring Private Equity India Pvt. Ltd., who have been joined by ADB Ventures (Asian Development Bank’s venture arm). Other investors who participated in the round are Flowstate VC, Force Ventures, IndigoEdge Advisors, Toch.ai, Nishchay Goel and, Saikiran Krishnamurthy.
Satsure calls itself a platform, that works at the “intersection of spacetech, Artificial Intelligence (AI), and Software as a Service (SaaS)”. The company does that by combining space-based sensors with its proprietary machine learning algorithms, all coming together on an integrated bespoke big data platform. The startup leverages satellite data, remote sensing, Artificial Intelligence, and big data analytics to provide decision intelligence solutions to the Banking, Financial Services, and Insurance (BFSI) sector. SatSure’s value to the BFSI segment lies in the sustainability nexus of agriculture, infrastructure, and climate change.
SatSure offers three main decision intelligence products: a) SatSure Sparta: a platform for providing agriculture and climate-related insights as an open innovation, freemium model; b) SatSure SAGE: life cycle risk monitoring and business intelligence platform for agriculture financial services; c) SatSure SKIES: high-resolution satellite imagery-based infrastructure change detection platform.
The startup will use the proceeds of this funding towards expanding its footprint in Southeast Asia and accelerating its product development, which also includes launching its proprietary payloads to Low Earth Orbit. Satsure currently claims to have 34 enterprise customers across 8 countries.
