SatSure Completes Series A Round for EO Satellites

Ibadan, 30 August 2023. – SatSure has closed a Series A round of $15 million in equity capital and venture debt, with Baring Private Equity Partners (BPEP) and India and Promus Ventures leading the round. The round also saw participation from Omidyar Network India and xto10X. With this investment, SatSure’s plans of launching a fleet of four high-resolution optical and multispectral satellites continue to be on track for Q4 2025.

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 Company will also leverage the fresh round of financing to accelerate product innovation and expand its operations across the Americas and Asia-Pacific regions.

Along with the lead investors, this round also saw the participation of existing investors Force Ventures, Luckbox Ventures, and IndigoEdge Advisors. The closure of this round follows the strategic investments that SatSure received from the top private-sector Indian banks. Furthermore, SatSure’s decision analytics are powering greater profitability, improved operational efficiency, and effective policy decision-making for its customers with the convergence of satellite data and Artificial Intelligence (AI).

SatSure expressed enthusiasm about the investment closure, with Prateep Basu, Founder & CEO, stating, “We are glad to have such a great group of investors, who are supporting us in the journey towards becoming a full stack Earth observation data player. We commit to expand our outreach, invest in Low-earth orbit satellite assets, and continue developing innovative products that signify the rise of the Indian private space sector and its deep-rooted alignment to our national space program.”