Satim has secured $2 Million in their latest investor round to advance its AI-based, cutting-edge software, renowned globally for its automatic object detection, identification and classification capabilities anytime, anywhere using satellite SAR (synthetic aperture radar) imagery. This substantial investment will play a pivotal role in driving the company’s goal to revolutionize the transformation of complex satellite SAR data into actionable insights, with a specific focus on serving the military, government, and commercial maritime sectors. The funding will empower Satim to enhance its technology and capabilities, increasing the delivery of highly accurate and invaluable information to clients.
“We are excited about the Satim team and the technical and commercial progress they have made in a challenging, but extremely valuable market. Having some experience in the broader satellite industry, we understand how Satim’s solution provides the missing piece in the value chain of satellite imagery, and we’re glad to be part of the journey,” Alex Oppenheimer, Co-Owner of Verissimo Ventures said.
“Satim’s automated classification technology delivers tremendous value to commercial and defence customers. We are excited to see the continued enhancement of their capabilities, and utilization of their technology by the free world’s most important security alliances,” Paul Meier, Partner at Cultivation Capital said.
The investor round was led by Cultivation Capital, a highly regarded venture capital firm recognized for its expertise in early-stage investments. With a particular interest in geospatial technology, Cultivation Capital actively supports and invests in companies operating across a diverse range of industries. In addition to Cultivation Capital, Satim successfully secured investment from six additional prominent investors: Verissimo Ventures, The Flying Object, Everywhere Ventures, Hustle Fund, StartupIst Ventures, and an undisclosed investor from Eastern Europe. These investors are highly regarded for their strategic investments in startup, pre-seed, and seed funding rounds. The participation of these investors reflects their resolute belief in Satim’s distinct value proposition and remarkable potential to grow.
Founded in 2012, Satim has emerged as the pioneering force behind SATREC, their globally renowned software celebrated for its exceptional automatic object detection, identification and classification capabilities utilizing satellite SAR imagery. With an accomplished team of data scientists, remote sensing experts, AI and SAR specialists, and marine situational awareness experts with military backgrounds, Satim possesses a wealth of knowledge and operational expertise. During its early stages, Satim swiftly caught the attention of the European Space Agency (ESA), which recognized its cutting-edge technology as a market-leading capability. This led to funding for numerous research and development initiatives, predominantly focused on object detection. Today, Satim actively serves the military, government, and commercial sectors, delivering software and services tailored to meet specific needs.
