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.
Satim has already gained significant recognition for its 90% accurate object classification on satellite SAR imagery, providing a comprehensive solution for strategic site monitoring and maritime situational awareness.
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.
“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,” said Paul Meier, Partner at Cultivation Capital.
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.
“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,” said Alex Oppenheimer, Co-Owner of Verissimo Ventures.
The participation of these investors reflects their resolute belief in Satim’s distinct value proposition and remarkable potential to grow. With an unwavering commitment to innovation and a team of dedicated experts, Satim stands at the forefront of revolutionising satellite imagery analysis, paving the way for the future of monitoring and surveillance.
“I am thrilled and grateful to have the backing of such exceptional investors in our latest funding round. The substantial funds raised will play a pivotal role in advancing our SAR-based object detection and classification solutions, ensuring they remain at the forefront of the market. As we continue to attract significant interest from various quarters, this investment round will be instrumental in streamlining our operations and facilitating the seamless delivery of cutting-edge software to our customers,” commented Jacek Strzelczyk, CEO of Satim.