SpaceTech Startup PierSight Raises $600,000 In Pre-Seed Funding The company will deploy funding towards advancing its satellite subsystems by strengthening its talent pool and procuring essential electronic components for integration and comprehensive testing
By Teena Jose
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Spacetech startup has raised $600,000 in a pre-Seed funding round led by All In Capital. Along with an investment of $200,000 from All In Capital, the round also saw participation from entrepreneurs, angel investors such as Andreas Klinger, Vismay Agrawal, and Nikunj Jalan, amongst others. The company will deploy funding towards advancing its satellite subsystems by strengthening its talent pool and procuring essential electronic components for integration and comprehensive testing.
"Our engagements span a diverse spectrum of clients, encompassing island nations, government commerce divisions, and environmental agencies, all of whom share a pressing concern about the pervasive exploitation of Exclusive Economic Zones. Our innovative approach combines Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) technologies deployed via satellite, providing a comprehensive solution to address this complex problem," said Gaurav Seth, co-founder and CEO, PierSight.
Co-founded by Gaurav Seth (Ex-ISRO) and Vinit Bansal (Ex-National Instruments), PierSight is on a mission to provide persistent ocean surveillance through a constellation of Synthetic Aperture Radar (SAR) Imaging and Automatic Identification System (AIS) satellites.
"Maritime surveillance presents an immense global challenge due to widespread issues such as illegal fishing, contraband smuggling, terrorism, and environmental offences like oil spills. Monitoring activities across the vast expanses of the ocean is a monumental task for humans alone. Therefore, we were incredibly enthused to learn about PierSight's innovative solution to this problem — commercialising defence technology like Synthetic Aperture Radar (SAR) to oversee every vessel, everywhere, around the clock. We are particularly excited about their pioneering approach in harnessing defence technology, specifically SAR, to achieve persistent ship monitoring," said Kushal Bhagia, founder, All In Capital.
