Spacetech startup PierSight raises pre-Seed round

Spacetech startup PierSight has raised $600K in a pre-seed round led by All In Capital. The round also saw participation from entrepreneurs, angel investors such as Andreas Klinger, Vismay Agrawal,Techstars and Nikunj Jalan, among others. 

The proceeds will be used towards advancing its satellite subsystems by strengthening its talent pool and procuring essential electronic components for integration and comprehensive testing, PierSight said in a press release. In addition, it is also looking to partner with social and environmental agencies for solutioning, developing prototypes, and collaboration on studies.

Co-founded by Gaurav Seth and Vinit Bansal, PierSight claims to provide persistent ocean surveillance through a constellation of Synthetic Aperture Radar (SAR) Imaging and Automatic Identification System (AIS) satellites. 

The startup’s central objective is to provide continuous monitoring of maritime operations in 30-minute intervals.

Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara, and InspeCity are among the few of the space technology companies that have raised notable amounts of capital in the past few years.

In August, Satsure had raised $15 million in its Series A round whereas Digantara raised $10 million in Series A1 funding in June from Peak XV Partners and Kalaari Capital. Pixxel raised $36 million in a Series B round from new investors including Google in the same month.