PierSight Bags $600k Pre-seed Funding Led By All In Capital
Several notable angel investors, including Andreas Klinger, Vismay Agrawal, and Nikunj Jalan, also participated in the funding round
PierSight, an innovative start-up in the ocean surveillance sector, has successfully raised USD 600,000 in a pre-seed funding round, with All In Capital taking the lead with an investment of USD 200 thousand. Several notable angel investors, including Andreas Klinger, Vismay Agrawal, and Nikunj Jalan, also participated in the funding round. Renowned early-stage start-up investment firm Techstars, in partnership with NASA's Jet Propulsion Laboratory and the United States Space Force, endorsed PierSight by participating in the round.
Co-founded by Gaurav Seth (Ex-ISRO) and Vinit Bansal (Ex-National Instruments), PierSight has a mission to deliver continuous ocean surveillance through a network of Synthetic Aperture Radar (SAR) Imaging and AIS (Automatic Identification System) satellites. The start-up aims to monitor maritime operations with 30-minute intervals, a service unmatched in the industry.
PierSight's groundbreaking approach has earned it a place in the esteemed fall cohort of the Techstars Space Accelerator, in partnership with NASA and the United States Space Force, making it the sole Indian company and one of only 12 global startups selected.
The funding will empower PierSight to advance its satellite subsystems, bolster its talent pool, procure necessary electronic components for integration and comprehensive testing, and elevate its Technology Readiness Level. Additionally, the company seeks partnerships with social and environmental agencies for solution development, prototype creation, and collaborative research.
Gaurav Seth, Co-Founder & CEO of PierSight, emphasized the company's innovative approach: "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."
In the next two years, PierSight aims to launch the world's first commercial satellite with integrated SAR and AIS capabilities, enabling unprecedented 30-minute real-time visibility at sea. This aligns with the United Nations' Sustainable Development Goal 14, emphasizing the importance of conserving and sustainably utilizing oceans and marine resources.
Kushal Bhagia, Founder of All In Capital, lauded PierSight's revolutionary solution to maritime surveillance challenges: "PierSight stands out as an extraordinary combination of profound technical expertise and sharp business insight. We are particularly excited about their pioneering approach in harnessing defence technology, specifically SAR, to achieve persistent ship monitoring."
All In Capital, founded by Kushal Bhagia and Aditya Singh, is known for its founder-centric approach and unwavering commitment to supporting early-stage startups.
Around The World