Bengaluru-based SatSure on Monday said it raised $5 million in a pre-Series A funding round led by Baring Private Equity India and ADB Ventures, Asian Development Bank's venture arm.

Other investors, including Flowstate VC, Force Ventures, IndigoEdge Advisors, Toch.ai, Nishchay Goel, Luckbox Ventures, and Saikiran Krishnamurthy also participated in the round.

Founded in 2017 by the Indian Institute of Space Science and Technology (IIST) and Indian Space Research Organisation (ISRO) alumni Prateep Basu, Rashmit Singh Sukhmani, and Abhishek Raju, SatSure leverages satellite data, remote sensing, AI, and Big Data analytics to provide decision intelligence solutions to the banking, financial services, and insurance (BFSI) sector.

The startup's value to the BFSI segment lies in the sustainability nexus of agriculture, infrastructure, and climate change.

The startup offers three main decision intelligence products, including SatSure Sparta — a platform for providing agriculture and climate-related insights as 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.

Executive Opinion

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,” he added.