Deeptech startup SatSure, supply chain marketplace India Index and logistics firm ScrapUncle have secured early-stage funding, the companies said on Tuesday.
SatSure
Satellite earth observation data and analytics startup SatSure has raised $15 million (Rs 124 crore) in a Series A funding round.
The round was co-led by Baring Private Equity Partners (BPEP), India and Promus Ventures, with participation from Omidyar Network India and xto10X along with existing investors Force Ventures, Luckbox Ventures, and IndigoEdge Advisors.
The funding will be used for the launch of a fleet of four high-resolution optical and multispectral satellites which is planned for the end of FY25. The Bengaluru-based startup will also use the funding to expand its operations across the Americas and Asia-Pacific regions.
Founded in 2017, Satsure uses satellite imagery and artificial intelligence (AI) to deliver decision intelligence from space, translating to insights for various industries, including agriculture, banking, and infrastructure.
"We aim to our outreach, invest in Low-earth orbit satellite assets, and continue developing products,” said Prateep Basu, founder and chief executive officer, SatSure
India Index
Business-to-business (B2B) supply chain marketplace India Index has raised $500,000 (Rs 4.13 crore) in a pre-seed funding round from a host of angel investors including Parth Jindal (JSW Group), Vaaman Sehgal (Motherson Group), Robert Lansing (Westminster Capital) amongst others.
The startup will deploy the proceeds to develop its technology stack and diversify the offerings that will allow users to conduct transaction and logistics services on the platform along with search, evaluation, document review and workflow management solutions.
Founded by Samir N. Kapadia, India Index is a cloud-based B2B supply chain marketplace that helps American buyers and Indian suppliers search, filter and vet supply chain partners. It counts JSW Group, Bharat Forge Limited amongst others as part of its network.
“Our new tools will allow U.S. buyers to conduct transaction and logistics services on the platform, completing the supply chain journey all in one place,” added Kapadia, founder and chief executive officer, India Index.
Logistics startup ScrapUncle has secured $447,460 (Rs 3.7 crore) in a pre-seed funding round co-led by Bestvantage, a family office of the promoters of Madhuram Papers.
The round also saw participation from angel investors including Bharat Jaisinghani of Polycab.
The New Delhi-based startup will use the fund to expand its current operations.
Founded in 2019 by Mukul Chhabra in 2019, ScrapUncle is a logistics and digital platform that enables users to sell scrap materials for recycling at pre-quoted prices. Through its website and app, it enables users to schedule the collection and recycling of their scrap materials.
"With this infusion of resources, we are equipped to enhance our current operational scale," said Chhabra.
