Ahmedabad-based Startup Aims to Set New Standards in Ocean Monitoring Using SAR and AIS Integrated Satellites
Bengaluru, NFAPost: In a groundbreaking move to transform maritime surveillance, Ahmedabad-based SpaceTech startup PierSight has successfully raised $6 million in a seed funding round. The funding, co-led by Alpha Wave Ventures and Elevation Capital, with participation from existing investor Techstars, positions PierSight to revolutionize ocean monitoring through the integration of Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) technologies.
Founded in 2023 by Gaurav Seth and Vinit Bansal, PierSight aims to be the “eyes and ears” at sea, offering real-time monitoring capabilities at 30-minute intervals. The startup plans to utilize the newly acquired capital to acquire and test critical hardware, expand its team, and design and launch both demo and operational satellites.
The integration of SAR and AIS technologies is poised to bring transformative benefits to sectors such as shipping, insurance, defence, coastguard, and the oil and gas industry. PierSight’s innovative approach focuses on enhancing surveillance precision, setting new standards for sustainable marine resource usage, and contributing to the overall efficiency of ocean-related industries.
PierSight’s immediate goals include the design and launch of a demo satellite on ISRO’s PSLV Orbital Experimental Module (POEM) platform, coupled with the deployment of its first operational satellite. The startup has gained notable support from Alpha Wave Ventures, recognizing the potential for a paradigm shift in the surveillance industry.
The spacetech industry in India is experiencing remarkable growth, and PierSight faces competition from companies like GalaxEye and Pixxel. The startup has secured access to the Indian National Space Promotion and Authorization Centre’s (IN-SPACe) labs for satellite development and has been a participant in the Techstars Space Accelerator program in the US.
According to Matt Kozlov, MD of Techstars Space Accelerator, PierSight’s exponential growth in its business pipeline both in the US and internationally underscores the promising trajectory of the startup since its initial investment.
As per Inc42’s research report, India’s SpaceTech market is projected to reach $77 billion by 2030, with the maritime sector contributing over $3.2 billion. PierSight’s innovative approach to persistent ocean monitoring aligns with the global imperative for sustainable marine resource usage, promising a convergence of technology, sustainability, and efficiency for the benefit of oceans and nations.
