VC Fund Investments
Maritime industry focused space-tech co PierSight raises $6-M led by Alpha Wave, Elevation
Ahmedabad-headquartered PierSight, a satellite-based surveillance provider for the maritime industry, has closed a USD 6 million seed funding round co-led by Alpha Wave Ventures and Elevation Capital with participation from existing backer Techstars.The fresh funding will be used for the procurement and testing of critical hardware, the design and launch of demo and operational satellites, and to expand the team.The space-tech startup had raised USD 600,000 in a pre-seed round led by All In Capital in September last year.Founded by Gaurav Seth and Vinit Bansal, PierSight is building a constellation of SAR and AIS satellites to provide persistent ocean monitoring. The firm claims that its satellites will provide 100% coverage and persistent monitoring in all weather conditions 24X7.
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