Spacetech startup PierSight raised $600K Pre-seed funding from All In Capital
A pre-seed round led by All In Capital raised $600K for the spacetech startup PierSight. Entrepreneurs and angel investors including Andreas Klinger, Vismay Agrawal, Techstars, and Nikunj Jalan participated in the round as well.
According to a press release from PierSight, the funds will be invested in improving its talent pool and purchasing crucial electronic components for integration and thorough testing of its satellite subsystems. It also seeks to collaborate on studies, create prototypes, and find solutions with social and environmental organizations.
Gaurav Seth and Vinit Bansal founded PierSight, which makes use of a constellation of Synthetic Aperture Radar (SAR) Imaging and Automatic Identification System (AIS) satellites to provide continuous ocean surveillance.
The main goal of the startup is to continuously monitor maritime operations every 30 minutes.
Among the few companies in the space technology sector that have raised sizeable sums of money recently are Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara, and InspeCity.
Digantara received $10 million in Series A1 funding from Peak XV Partners and Kalaari Capital in June, whereas Satsure received $15 million in its Series A round by the end of August. In the same month, Pixxel raised $36 million in a Series B round from new investors, including Google.
