Satsure Raises Pre-Series A Round Of Us$ 5 Million In Funding From Baring Pe India, Adb Ventures, And Others
Satsure Raises Pre-Series A Round Of Us$ 5 Million In Funding From Baring Pe India, Adb Ventures, And Others
02/07/22, 9:00 AM
Location
bengaluruIndustry
software
Round Type
pre-series a
SatSure, a startup working at the intersection of spacetech, Artificial Intelligence (AI), and Software as a Service (SaaS), announces the raise of US$ 5 million in Pre-Series A funding in a round led by Baring Private Equity India Pvt. Ltd., who have now 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.
Company Info
Location
bengaluru, karnataka, india
Additional Info
The Bengaluru-based company, which was founded in 2017 by Prateep Basu, Rashmit Singh Sukhmani and Abhishek Raju, has remained bootstrapped until now, and works with brands such as ICICI Bank, Reliance General Insurance, and Samunnati Finance among others to sell its insights on crop health and predictive analytics. ”The company said it will utilise the capital to double its team from 50 to 100 people by the end of the current fiscal, while also growing the number of businesses it sells its software-as-a-service (SaaS) solutions to and growing its presence in markets outside of India as well. The company has partnered with Bellatrix Aerospace to utilise its hybrid propulsion systems for its satellites. Earlier this year, SatSure said it would launch a fleet of remote sensing micro satellites starting from 2022 to meet the growing need for high-resolution images needed by the aviation, banking, insurance and transportation sectors.