Total amount raised
$24.6 Million
Latest funding date
4/1/2024
Location
SatSure has successfully raised funding over seven rounds, with the latest being a Series A round. The company is backed by 29 investors, including notable names like Baring Private Equity Partners Espana and TransUnion.
Keep reading to explore the intricacies of SatSure's fundraising journey and the investors backing this innovative decision analytics platform.
What Is SatSure?
SatSure is an innovative decision analytics company based in Bangalore, Karnataka, India. Founded to leverage analytics, artificial intelligence, and machine learning, the company provides decision-making insights across various industries.
With a workforce of 51-100 employees, SatSure integrates satellite, LiDAR, and aerial imagery to transform raw Earth data into actionable intelligence. Their solutions cater to sectors like aviation, agriculture, banking, utilities, forestry, and insurance, aiming to optimize operations and mitigate risks.
How Much Funding Has SatSure Raised?
- Series A
- Amount Raised: USD 15,000,000
- 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 four high-resolution optical and multispectral satellites by Q4 2025, accelerate product innovation, and expand operations across the Americas and Asia-Pacific regions.
- Debt Financing
- Date: August 2023
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's expansion and operational needs.
- Series A
- Date: February 2023
- Lead Investors: Baring Private Equity Partners Espana, Promus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion.
- Grant
- Amount Raised: INR 5,000,000
- Date: August 2022
- Lead Investors: ANIC-ARISE
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development initiatives.
- Seed
- Amount Raised: USD 5,000,000
- Date: February 2022
- Lead Investors: Baring Private Equity India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and development.
- Seed
- Amount Raised: INR 340,000,000
- Date: November 2021
- Lead Investors: Baring Private Equity Partners India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and market entry.
Total Amount Raised: USD 20,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Baring Private Equity Partners India
- Details: Baring Private Equity Partners India is a leading private equity firm that has been actively investing in Indian companies. They led SatSure's Series A and pre-Series A funding rounds.
- Investment Focus Areas: Technology, healthcare, financial services, consumer products, industrials
- Notable Investments: SatSure, Manipal Hospitals, CMS Info Systems
- Promus Ventures
- Details: Promus Ventures is a venture capital firm based in Chicago, San Francisco, and Luxembourg. They focus on investing in early-stage DeepTech companies.
- Investment Focus Areas: DeepTech, space, AI
- Notable Investments: SatSure, Spire Global, Rocket Lab
- Omidyar Network India
- Details: Omidyar Network India is an investment firm that supports innovative startups and social impact initiatives in India. They participated in SatSure's Series A funding round.
- Investment Focus Areas: Education, financial inclusion, governance, emerging tech
- Notable Investments: SatSure, 1mg, Dailyhunt
- xto10X
- Details: xto10X is a growth-stage advisory and investment firm co-founded by former Flipkart executives. They participated in SatSure's Series A funding round.
- Investment Focus Areas: Technology, e-commerce, SaaS
- Notable Investments: SatSure, Udaan, Cure.fit
- Force Ventures
- Details: Force Ventures is a venture capital firm that invests in early-stage technology companies. They have been involved in multiple funding rounds for SatSure.
- Investment Focus Areas: Technology, fintech, healthtech
- Notable Investments: SatSure, Razorpay, Innovaccer
What's Next for SatSure?
SatSure is poised for significant growth with plans to launch a fleet of four 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 geospatial analytics in sectors like agriculture, banking, and critical infrastructure.
Given the successful $15 million Series A funding round, SatSure is well-positioned to attract further investments. The increasing interest in the Indian spacetech sector and strategic partnerships with financial institutions suggest a promising future for additional funding rounds. This financial backing will be crucial for accelerating product innovation and scaling operations globally.
However, SatSure will face challenges such as competition from other spacetech startups and the technical complexities of launching and maintaining a satellite fleet. Navigating regulatory and operational hurdles in new international markets will also be critical. Despite these challenges, the company's strategic vision and robust investor support position it well for future success.
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