The $6 million seed funding round for PierSight, a satellite-based surveillance provider for the maritime sector, has closed, with participation from current backer Techstars and Alpha Wave Ventures leading the lead.
The spacetech company had previously raised $600K in September of last year in a pre-seed round led by All In Capital.
The new funding will go toward building out the team, designing and launching demonstration and operational satellites, and purchasing and testing essential hardware.
In order to provide continuous ocean monitoring, PierSight, founded by Gaurav Seth and Vinit Bansal, is assembling a constellation of SAR and AIS satellites. Its satellites will offer continuous monitoring and 100% coverage in all weather conditions, day and night.
The company is committed to resolving issues that governments, commercial businesses, and non-governmental organizations encounter in the areas of maritime security, environmental monitoring, and maritime operations.
In addition to deploying its first operational satellite, the startup intends to concentrate on designing and launching a demonstration satellite on ISRO’s PSLV Orbital Experimental Module (POEM) platform.
A select group of space technology companies, including Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara, and InspeCity, have successfully raised significant sums of money in the last few years.
