Ex-Chandrayaan-2 Scientist's SpaceTech Start-up PierSight Raises $600K in Pre-seed Funding

• PierSight aims to build near real-time visibility for all human activity at sea
• All In Capital has led the round with an infusion of $200K

PierSight, a pioneering start-up in the field of ocean surveillance, has raised $600K in a pre-seed round led by All In Capital. Along with an investment of $200K from All In Capital, the round also saw participation from entrepreneurs, angel investors such as Andreas Klinger, Vismay Agrawal, and Nikunj Jalan, amongst others. The globally renowned early-stage start-up investment firm and accelerator Techstars also participated in the round.

Co-founded by Gaurav Seth (Ex-ISRO), who was instrumental in the launch of India's lunar mission Chandrayaan-2, and Vinit Bansal (Ex-National Instruments), PierSight is on a mission to provide persistent ocean surveillance through a constellation of Synthetic Aperture Radar (SAR) Imaging and Automatic Identification System (AIS) satellites. PierSight’s central objective is to provide continuous monitoring of maritime operations in 30-minute intervals, a service unparalleled in the industry. Notably, this innovative Ahmedabad-based startup has earned distinction as the sole Indian company and one of 12 global start-ups selected to join the esteemed fall cohort of the Techstars Space Accelerator. Selection in this accelerator program, conducted in partnership with NASA's Jet Propulsion Laboratory and the United States Space Force, validates PierSight's exceptional potential and commitment to advancing the frontiers of maritime monitoring technology.

PierSight will deploy funding towards advancing its satellite subsystems by strengthening its talent pool and procuring essential electronic components for integration and comprehensive testing. One of PierSight’s top-most priorities is to enhance its Technology Readiness Level. In addition, it is also looking to partner with social and environmental agencies for solutioning, developing prototypes, and collaboration on studies.

(L-R) – Gaurav Seth & Vinit Bansal, Co-founders, PierSight

Speaking on the funding, Gaurav Seth, Co-founder & CEO, PierSight said, “Our engagements span a diverse spectrum of clients, encompassing island nations, government commerce divisions, and environmental agencies, all of whom share a pressing concern about the pervasive exploitation of Exclusive Economic Zones. Our innovative approach combines Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) technologies deployed via satellite, providing a comprehensive solution to address this complex problem.”

Over the next two years, PierSight is poised to achieve a groundbreaking milestone with the launch of the world's first commercial satellite integrating SAR and AIS capabilities. This significant advancement in technology will enable the start-up to monitor maritime activity with unprecedented frequency, offering 30-minute intervals of real-time visibility at sea. PierSight’s commitment to this endeavour is fully aligned with the United Nations’ Sustainable Development Goal 14, which underscores the importance of conserving and sustainably utilising oceans and marine resources for the benefit of present and future generations.

To recall, in March of last year Tapan Misra, a retired Indian scientist and former director of Space Applications Centre- ISRO, announced "Sisir Radar Private Limited", a space technology startup co-founded by him. Sisir Radar is in making synthetic aperture radars (SAR) that can be fixed on drones for imaging smaller land areas. 

Commenting on the investment, Kushal Bhagia, Founder, All In Capital, said “Maritime surveillance presents an immense global challenge due to widespread issues such as illegal fishing, contraband smuggling, terrorism, and environmental offences like oil spills. Monitoring activities across the vast expanses of the ocean is a monumental task for humans alone. Therefore, we were incredibly enthused to learn about PierSight's innovative solution to this problem — commercialising defence technology like Synthetic Aperture Radar (SAR) to oversee every vessel, everywhere, around the clock. PierSight stands out as an extraordinary combination of profound technical expertise and sharp business insight. We are particularly excited about their pioneering approach in harnessing defence technology, specifically SAR, to achieve persistent ship monitoring.”

Kushal Bhagia, Co-Founder, All In Capital

Co-founded by Kushal Bhagia and Aditya Singh, All In Capital has a track record of backing over 40 start-ups at their earliest stages in the past year. Their founder-centric approach and unwavering commitment to providing invaluable support align perfectly with PierSight's vision and goals.

All In Capital, a leading player in the early-stage investment landscape is dedicated to nurturing Indian entrepreneurs at the pre-seed stage. Co-founded by Kushal Bhagia and Aditya Singh, All In Capital's approach is underpinned by a commitment to fostering a founder-centric culture, placing a premium on providing invaluable support where it truly matters. They have backed 40+ companies since last year as their earliest believers. Looking ahead, All In Capital is poised to identify and invest in 20 of the most promising companies in the next 12 months.

PierSight provides persistent ocean surveillance through a constellation of Synthetic Aperture Radar (SAR) Imaging and AIS satellites. SAR allows for high-precision imaging in all weather conditions and even at night. PierSight is being built by Gaurav Seth (Ex-ISRO) and Vinit Bansal (Ex-National Instruments).

These Private Firms Played Significant Role in Success of Chandrayaan-2 Launch

Private sector players had a significant role to play in the success of the state-run ISRO's Chandrayaan-2 mission with companies like Larsen & Toubro (L&T) and Godrej group contributing with hardware and testing solutions.

Dubbed as 'Baahubali', the Rs 978 crore unmanned mission lifted-off from the second launchpad at the spaceport into skies at 2.43 pm and successfully placed the 3,850-kg Chandrayaan-2 into the earth orbit about 16 minutes later.

[caption id="attachment_132180" align="aligncenter" width="312"] Geosynchronous Satellite Launch Vehicle Mark-III (GSLV Mk-III)[/caption]

Apart from these two large corporates, companies like Ananth Technologies, MTAR Technologies, Inox Technologies, Lakshmi Machine Works, Centum Avasarala and Karnataka Hybrid Microdevices, are reported to have contributed to the successful launch of the mission.

"Godrej's contribution to the mission includes critical equipment such as L110 engine and CE20 engine for the launcher GSLV MK-III, thrusters for the orbiter and lander, and components for the DSN antenna," Godrej Aerospace Executive Vice President and Business Head SM Vaidya said in a statement.

Commenting on the success, JD Patil, Whole-time Director, and Senior Executive Vice President for L&T's
Defence and L&T-NxT businesses said we have played a vital role in powering ISRO's second historic mission to the moon, by providing number of critical flight hardware, sub-systems and assemblies.

The GSLV MK-III launch vehicle was powered at lift-off by twin S200 solid boosters comprising head end, middle and nozzle end segments manufactured at L&T's Powai Aerospace Workshop.

[caption id="attachment_132182" align="aligncenter" width="1000"] GSLV MkIII-M1 / Chandryaan 2 vehicle night view at the Second Launch Pad[/caption]

Besides manufacturing, L&T also carried out Proof Pressure Testing to ascertain the integrity and impeccable fabrication quality of the entire S200 solid boosters. The company also supplied hardware like Umbilical and Honey Comb Deck Panels that were used in this launch.

Patil further said L&T has played a significant role in the Indian space programme and has been associated with all generations of launch vehicles including SLV3, ASLV, PSLV, GSLV to the latest GSLV Mk-III, which is being used for the Chandrayaan-2.

Besides private sector, the State-run Steel Authority of India (SAIL) also supplied special-quality stainless steel from its Salem steel plant for the requirements for stringen specifications, superior surface finish and close tolerances for the mission.

The lunar mission which was originally planned on July 15 was delayed due to a technical snag. The Chandrayaan-2, a three-module spacecraft comprising orbiter, lander and rover, will be subjected to a
series of orbit manoeuvres using its onboard propulsion system to take it to the vicinity of moon over the next weeks with the rover soft landing planned on September 7.

India launched its domestic space program 50 years ago and had to develop its own technology and rocket after Western powers levied sanctions in response to a 1974 nuclear weapons test.

Since then ISRO, has worked to keep import costs low by designing most of the parts for its programme that are then outsourced to the domestic private sector.