SatSure garners USD 5 million in Pre-Series funding led by Baring Private Equity India
Led by Baring Private Equity India Pvt. Ltd., who have now been joined by ADB Ventures (Asian Development Bank's venture arm), SatSure, a startup working at the intersection of spacetech, av and Artificial Intelligence (AI), announces the raise of US$ 5 million in Pre-Series A funding in a round.
Flowstate VC, Force Ventures, IndigoEdge Advisors, Toch.ai, Nishchay Goel and, Saikiran Krishnamurthy are other investors who participated in the round.
"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. We're thrilled to partner with SatSure as the company expands its footprint in South and Southeast Asia," 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. The team has demonstrated exceptional execution capabilities with an impressive track record of customer acquisition. 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.
The team plans to grow to more than 100 members strong by the end of this quarter. According to Allied Market Research data, with 34 enterprise customers across 8 countries, SatSure's growth comes at a time when the global satellite data services market is expected to grow at a CAGR of 22.5 per cent to reach USD 45.85 billion by 2030.
Flowstate VC, Force Ventures, IndigoEdge Advisors, Toch.ai, Nishchay Goel and, Saikiran Krishnamurthy are other investors who participated in the round.
"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. We're thrilled to partner with SatSure as the company expands its footprint in South and Southeast Asia," 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. The team has demonstrated exceptional execution capabilities with an impressive track record of customer acquisition. 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.
The team plans to grow to more than 100 members strong by the end of this quarter. According to Allied Market Research data, with 34 enterprise customers across 8 countries, SatSure's growth comes at a time when the global satellite data services market is expected to grow at a CAGR of 22.5 per cent to reach USD 45.85 billion by 2030.
.jpg "Caim By Arelang: India's First CandyCeuticals Company Offering Nutraceuticals in Irresistibly Tasty Treats")
