Space Research Firm SatSure Concludes Series A Round with $15 Million

SatSure, an India-based satellite Earth observation data and analytics firm, has closed a $15 million Series A round of equity and venture debt. SatSure said in a statement on August 29 that the round was led by Baring Private Equity Partners (BPEP), India, and Promus Ventures, with participation from Omidyar Network India and xto10X.

Along with the lead investors, existing investors Force Ventures, Luckbox Ventures, and IndigoEdge Advisors participated in this round.

The completion of this round follows the strategic investments announced earlier in February 2023 by SatSure from top private sector Indian banks.

With this investment, SatSure’s plans of launching a fleet of four high resolution optical and multispectral satellites continues to be on track for the fourth quarter of 2025. The fresh round of financing will also be used by the company to accelerate product innovation and expand its operations across the Americas and Asia-Pacific regions.

"We are thrilled to have such a great group of investors who are supporting us in our journey towards becoming a full stack Earth observation data player," said Prateep Basu, Founder and Chief Executive Officer of SatSure. "We are committed to expanding our outreach, investing in Low-Earth orbit satellite assets, and continuing developing innovative products that symbolise the rise of the India private space sector and its deep rooted alignment to our national space programme."