SatSure, a Bengaluru-based space tech startup, has raised USD 5 million in a Pre-Series A funding round co-led by ADB Ventures, Asian Development Bank’s venture arm and Baring Private Equity India on 7 February 2022.

Investors: Baring Private Equity India and ADB Ventures, Asian Development Bank’s Venture arm, co-led the latest funding round with participation from Flowstate VC, Force Ventures, IndigoEdge Advisors, Toch.ai, Duro Capital’s Nishchay Goel, LuckBox Ventures and xto10x Technologies’ Saikiran Krishnamurthy.

The Objectives behind the funding: The company plans to deploy the current proceeds to expand its footprint in Southeast Asia and accelerate its product development, including launching its proprietary payloads to Low Earth Orbit.

About SatSure

Image Credits: SatSure

Founded in 2017 by the Indian Institute of Space Science and Technology (IIST) and Indian Space Research Organisation (ISRO) alumni Prateep Basu, Abhishek Raju and Rashmit Singh Sukhmani, SatSure is an innovative decision analytics company that leverages advances in satellites remote sensing, big data analytics, and machine learning to provide answers to big area questions across the domains of Agriculture, Banking & Financial Service, Infrastructure and Climate Change Mitigation. The startup has been recognized by reputed international and domestic organizations, such as the World Economic Forum, Ministry of Agriculture & Farmers Welfare, and the Asian Development Bank, to name a few. 

The company offers three main decision intelligence products, including SatSure Sparta – a platform for providing climate and agriculture-related insights as an open innovation freemium model; SatSure Sage life cycle risk monitoring and business intelligence platform for agriculture financial services and SatSure SKIES – a high-resolution satellite imagery-based infrastructure change detection platform.

What the Founder has to say:

Prateep Basu, Co-founder and CEO, SatSure, said, “At SatSure, we have developed products for various markets, where intelligence derived from space data forms the core of the offering, which is globally scalable, proving that such a business can be built sustainably. This funding round will help us accelerate our mission towards enabling rural financial inclusion and expand our footprint into South East Asia. We are looking forward to working with our investors who are joining us on our vision to create a full-stack space-tech firm out of India.”  

What the Investors have to say:

“SatSure’s powerful analytics platform that combines satellite technology and operational data to minimize lending risk is unique and best placed to offer actionable and timely insights. Its proprietary AI-powered modeling empowers financial institutions to issue credit and insurance policies faster in higher volume and on less conservative terms, which unlocks financing for smallholder farms,” said Jugnu Pati, Investment Specialist at ADB Ventures.

“SatSure’s suite of products and robust technology backbone have global applications in both emerging and developed markets. SatSure is well-positioned to emerge as a leader, and we are delighted to be a partner in this journey,” added Anjani Bansal, Fund Manager at Flowstate VC.


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Manish writes about the startup ecosystem on VCBay. He is pursuing Master of Commerce from Delhi School of Economics, University of Delhi, and is passionate about the world of finance, information technology & entrepreneurship.

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