SatSure, an EO intelligence startup, secured a $15M Series A, the company announced Wednesday. The capital influx will be used to develop a fleet of four high-res and multispectral satellites, which are expected to launch in Q4 2025.
Baring Private Equity Partners and Promus Ventures led the round, which consisted of a mix of equity capital and venture debt.
SatSure 101: The India-based company, which was founded in 2017, leverages satellite imagery and AI to deliver curated data intelligence to its customers. The company primarily serves environmental and farming end markets with an emphasis on agriculture banking.
Cash crop: The sheer size of farms and the unpredictability of crop yields make agriculture credit underwriting and monitoring difficult for banks, which has led to high transaction fees and reduced access to credit for farmers.
- SatSure uses its AI solutions to analyze real-time satellite imaging to deliver risk and crop monitoring data to bankers.
- The increased information can enhance the flow of credit to the underbanked agriculture sector.
“We have pioneered the use of satellite data as an integral part of our tech stack to enable expeditious credit assessment of farmers in a contactless manner,” said Rakesh Jha, an executive at ICICI Bank—an Indian multinational bank, and a SatSure investor and customer.
The crop monitoring, risk management, and pre/post harvesting SatSure solutions are also used by farmers and other companies in the agriculture ecosystem to improve operations.
India is space-pilled: With last week’s successful landing on the Moon, space fever is sweeping through India with space stocks surging and a patriotic excitement that the nation—and particularly its burgeoning commercial space sector—will emerge as a key mover and shaker in the new space economy.
