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Spacetech startup SatSure raises $15M in a Series A round to accelerate product innovation and expansion

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Vivek Vishwakarma
29 Aug 2023
SatSure Founders

SatSure Founders

SatSure, a spacetech startup that provides satellite Earth observation data and analytics, today announced the closure of a Series A round worth $15 million in equity capital and venture debt.

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SatSure says Baring Private Equity Partners (BPEP), India and Promus Ventures led the new round. The round also witnessed participation from Omidyar Network India and xto10X and existing backers, including Force Ventures, Luckbox Ventures, and IndigoEdge Advisors.

With this round of funding, The spacetech startup will focus on accelerating product innovation and expansion of its operations across the US and Asia-Pacific regions. Notably, This would also help the startup in launching a fleet of four high-resolution optical and multispectral satellites by Q4 2025.

"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," said Prateep Basu, CEO of SatSure.

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Founded in 2017 by Prateep Basu, Abhishek Raju, and Rashmit Singh Sukhmani, SatSure leverages satellite imagery and AI to deliver decision intelligence from space, translating to valuable insights for various industries, including agriculture, banking, and critical infrastructure.

The use case:

Current use cases that the startup caters to are spread across enabling farmer financial inclusion, improved debt service management in the rural areas, mortgage loan monitoring, enabling agrichemicals hyperlocal sales intelligence and distribution strategy, aeronautical data management, vegetation monitoring for utilities, construction change detection, and commodities procurement intelligence, to name a few.

“SatSure is building deep technology expertise and solving tough problems. Our continued confidence in the company’s vision is built on the global customer traction, a very talented team, and the large markets they are opening up through their product and business innovation.”, said Arul Mehra, Partner at BPEP, India.

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