Latest news with #PierSight
Time of India
a day ago
- Business
- Time of India
Bid that bagged the 12 Earth Observation satellites PPP Project quoted Rs 0
BENGALURU: In what's unprecedented, the L1 quotation (lowest bid) by the consortium that won the 12 Earth Observation satellites project being implemented as a PPP by IN-SPACe, is Rs 0 (zero rupees). The consortium comprising Pixxel, PierSight, SatSure and Dhruva, which will bear the financial cost of the project, will invest more than Rs 1,2000 crore in the next four-five years. Confirming this, IN-SPACe chairman Pawan Goenka told TOI in a one-on-one interaction: 'Obviously this was a competitive bid and each of the bidders would have evaluated the value of giving the opportunity to build this constellation. In the judgment of the winning bidder, they decided that even if they don't get any money from the govt, it is important for them to get this opportunity to develop it and therefore they see a good financial opportunity in this constellation. ' Terming it a very big endorsement of how the private sector sees the future of space economy in India, he said: '...for a consortium to come forward and commit to invest more than Rs 1,200 crores of their own money with a full expectation, obviously, that they will more than recover their investment over a period of time. So I think it's very, very positive news that the winning bidder has bid only zero.' As reported by TOI on Wednesday, the constellation of 12 satellites will feature a mix of sub-metre very high-resolution, wide-swath multispectral, synthetic aperture radar (SAR), and hyperspectral satellites, enabling applications such as precision agriculture, water quality monitoring, land-use mapping, environmental compliance, disaster assessment, maritime operations, national security and infrastructure development. The project will be implemented through a special purpose vehicle (SPV). 'We have a time limit of 90 days for signing the agreement starting yesterday. Hopefully we sign much before that. As per the RFP, the lead player must have at least 26% ownership and each consortium member at least 10%. It will be a legal entity formed with well-defined roles for each of the four members.' SatSure CEO Prateep Basu said: 'SatSure will be contributing two satellites in this consortium, with its novel optical and multi-spectral wide swath imager developed by its subsidiary KaleidEO. We'll be commercialising our novel payload that provides high coverage at sub-meter spatial resolution. I believe this is a milestone not just for India's space story, but for how EO technology can deliver meaningful, measurable value to users across different industries. ' PierSight will be producing at least two, if not three SAR satellites, while the remaining will be hyperspectral satellites from Pixxel's stable. 'SAR makes the constellation operational 24/7 in all weather conditions. Our role is to deliver radar‐first, analysis‐ready products with low latency, so agencies and enterprises get alerts and evidence, not just raw data,' PierSight CEO Gaurav Seth, said. Dhruva Space CEO Sanjay Nekkanti said the project reflects growing confidence in India's private space tech sector. The company plans to leverage its upcoming spacecraft manufacturing facility in Telangana to scale production and offer turnkey ground station infrastructure. In partnership with consortium members, Dhruva aims to build an end-to-end, sovereign EO ecosystem. Goenka said IN-SPACe was very happy with the outcome, and added that when they started, the agency didn't know whether there will be enough interest in the private sector to take on a project of this nature, because this is one of the largest investments made by the private sector in the space sector. '...Finally, to have three people qualify for the commercial bid, each wanting the project very, very badly, gives us confidence that there is tremendous optimism about the space sector opportunities in the private sector… It is a validation of the whole space sector reform,' he said.
Time of India
2 days ago
- Business
- Time of India
Pixxel-led consortium makes ‘suicide bid' at zero for EO PPP, to bear Rs 1,200-crore cost
Bengaluru-based Pixxel-led consortium, which has won the government contract to design, build, and operate India's first fully indigenous commercial Earth Observation (EO) satellite constellation, bid at zero cost. This means the group will bear the entire Rs 1,200 crore investment while forgoing the government's public-private partnership (PPP) offer of up to Rs 350 crore in support.'The winning bid was zero. I cannot reveal the other bids, but this zero bid by the consortium is a very strong statement that the private sector sees immense opportunities in space,' IN-SPACe chairman Pawan Goenka told Pixxel consortium , comprising SatSure, PierSight, and Dhruva Space, emerged as the lowest bidder (L1) ahead of two other technically qualified groups: Astra Microwave Products Bharat Electronics , Sisir Radar, and Spectragaze Systems; and GalaxEye Space, with request for proposal was issued a year ago, with IN-SPACe announcing the selection of the winning bidder on GalaxEye, one of the other technically qualified consortia, told ET that its bid was pegged at Rs 97 crore. Over the next four years, the team will deploy 12 satellites carrying optical, hyperspectral, and synthetic aperture radar (SAR) sensors, delivering high-resolution data for agriculture, urban planning, disaster management, climate monitoring, and national Jyoti, Director, Technical Directorate, IN-SPACe, told ET that the first satellite will be launched within two years, with the remaining 11 to follow over the next two-and-a-half years. 'Once the first set of satellites is launched and initial data is received, it will undergo extensive validation and calibration before being offered to the commercial market,' he said the first satellite includes a lot of R&D as it has clearly defined the specifications in the tender.'It's not just about launching 12 satellites but meeting exact parameters on revisit frequency, data resolution, and spatial coverage,' Goenka said, adding that for the first time, an Indian satellite will see multiple payloads or data capture capabilities integrated into a single known for its hyperspectral imaging expertise, will spearhead satellite design and integration . SatSure will contribute with its knowledge in geospatial analytics and value-added services for sectors such as agriculture and infrastructure, while Dhruva Space will provide its expertise in satellite platform and ground segment solutions. PierSight will bring its capabilities in maritime surveillance , leveraging Synthetic Aperture Radar (SAR) technology to enhance monitoring and analytics over oceans and coastal regions.
Time of India
2 days ago
- Business
- Time of India
Ahmedabad spacetech firm joins consortium for indigenous satellites
1 2 Ahmedabad: India's first fully indigenous commercial earth observation (EO) satellite constellation is taking shape, and Ahmedabad is playing a starring role. PierSight Space, a spacetech firm from the city, has joined a four-member private consortium selected by Indian National Space Promotion and Authorisation Centre (IN-SPACe), under the department of space, to build and operate the network. The Rs 1,200 crore project, under a pioneering public-private partnership (EO-PPP) model, will deploy 12 satellites equipped with synthetic aperture radar (SAR) for round-the-clock imaging in all weather. The consortium is led by PixxelSpace India and also includes Satsure Analytics India and Dhruva Space. Officials of IN-SPACe, headquartered in Ahmedabad, said that for the first time in India's space history, a private grouping will fund, design, build, and operate such a system, with the constellation expected to be launched over the next five years. The resulting EO data will serve critical sectors including climate change monitoring, disaster management, agriculture, infrastructure, marine surveillance, national security, and urban planning, said experts. Gaurav Seth, co-founder and CEO of PierSight, said their primary task will be to develop SAR technology, which allows Earth observation round the clock, in all weather conditions. "This programme ensures that India's critical sectors will no longer have to wait for foreign data or compromise on timelines. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your Finger Shape Says a Lot About Your Personality, Read Now Tips and Tricks Undo Our constellation will put sovereign EO capabilities into the hands of Indian decision-makers, ensuring security, speed, and self-sufficiency," he said. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Gold Rates Today in Ahmedabad | Silver Rates Today in Ahmedabad Vinit Bansal, PierSight's co-founder and CTO, added that the mission goes beyond capturing images. "The real game-changer will be the context built over time, enabling insights that can drive both public and private sector decisions." Experts point to real-world applications such as mapping flood zones and detecting landslides after a cloudburst, like the recent one in Uttarakhand, or monitoring crops during the monsoon when cloud cover hampers optical satellites. SAR data can also support industries such as mining, infrastructure, and logistics, giving both govt and business stakeholders more accurate and timely intelligence. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
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Business Standard
20-05-2025
- Business
- Business Standard
PierSight gains strategic investors to grow satellite maritime surveillance
Space-tech startup PierSight has secured additional capital through a seed extension round, bringing its total funding to $8 million. The company is developing a constellation of Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) satellites to deliver continuous, all-weather maritime surveillance. The funding will support the firm's expansion plans and hiring across multiple engineering roles. 'We have the necessary resources in place to reach our upcoming targets,' said Gaurav Seth, co-founder and chief executive officer of PierSight. 'This round was about welcoming partners who bring frontline experience in ocean sustainability and port operations, and can help us build a world-class team.' The new investment comes from the Sustainable Ocean Alliance (SOA) and its venture arm, Seabird Ventures, along with CE-Ventures—the corporate venture capital platform of Crescent Enterprises. Other investors include Nandan Reddy (co-founder, Swiggy), Natasha Malpani Oswal (investor, Boundless), and Sahil Lavingia (founder, Gumroad). 'It's a strong validation to have CE-Ventures as a backer, given that the parent, Crescent Enterprises, operates the region's largest privately-owned independent port operator through its subsidiary, Gulftainer,' said Vinit Bansal, co-founder and chief technology officer of PierSight. PierSight is working with coast guards, insurers, shipping lines, port operators, and ocean conservation NGOs to tackle maritime challenges. These include monitoring Exclusive Economic Zones (EEZs), detecting illegal, unreported, and unregulated (IUU) fishing, tracking oil spills, identifying dark vessels, and preventing marine insurance fraud. 'PierSight's ocean-focused satellite constellation will be highly scalable for conservation outcomes by exposing the 'dark side' of ocean activities like illegal fishing and offshore pollution dumping,' said Matt Mulrennan, head of investments at the Sustainable Ocean Alliance. 'Enforcing ocean regulations and achieving full ocean monitoring by 2030 is an area where conservationists, governments, and big ocean industries are all eager to collaborate.' The company successfully launched its technology demonstration satellite, Varuna, in December 2024 and qualified its payload subsystems to TRL-7. PierSight's first commercial SAR + AIS (VDES-enabled) satellite is in development and scheduled for launch in mid-2026. Its maritime analytics platform, MATSYA, is also under development, with a release expected in Q4 2025. A drone-borne SAR system is currently undergoing flight testing and is slated for commercial availability by Q4 2025. 'PierSight is pioneering a new frontier in satellite-based maritime intelligence with its innovative use of Synthetic Aperture Radar technology,' said Sudarshan Pareek, senior vice-president and head of ventures at CE-Ventures. 'The team is building the next-generation ocean observability stack, solving critical challenges in global shipping, security, and environmental tracking.'
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Space-tech startup PierSight adds strategic investors, bringing total funding to $8 million
PierSight, a space-tech company building a constellation of Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) satellites for 24/7, all‑weather maritime intelligence, today announced it has secured additional capital in a seed extension, bringing the company's total funding to $8 million. 'We have the necessary resources in place to reach our upcoming targets,' said Gaurav Seth, Co‑founder & CEO of PierSight. 'This round was about welcoming partners who bring frontline experience in ocean sustainability and port operations and can help us build a world‑class team.' The new investment comes from the Sustainable Ocean Alliance (SOA) and its venture arm, Seabird Ventures, as well as CE-Ventures, the corporate venture capital platform of Crescent Enterprises, and leading technology operators Nandan Reddy (Co-founder, Swiggy), Natasha Malpani Oswal (Investor, Boundless), and Sahil Lavingia (Founder, Gumroad). 'Our mission aligns well with UN Sustainable Development Goal 14, which is about conserving and sustainably using the oceans and marine resources. Sustainable Ocean Alliance's (SOA) investment is a strong signal that we take this mission seriously,' added Seth. 'It's a strong validation to have CE-Ventures as a backer, given that the parent, Crescent Enterprises, operates the region's largest privately-owned independent port operator through its subsidiary, Gulftainer,' said Vinit Bansal, Co-founder & CTO of PierSight. PierSight is collaborating with coast guards, insurers, shipping lines, port operators, and ocean conservation NGOs to address challenges such as monitoring Exclusive Economic Zones (EEZs), detecting Illegal, Unreported, and Unregulated (IUU) Fishing, monitoring oil spills, dark-vessel detection, and marine insurance fraud, among others. 'PierSight's ocean-focused satellite constellation will be highly scalable for conservation outcomes by exposing the 'dark side' of ocean activities like illegal fishing and offshore pollution dumping. Enforcing ocean regulations and achieving full ocean monitoring by 2030 is an area where conservationists, governments, and big ocean industries are all eager to collaborate.' Matt Mulrennan, Head of Investments, Sustainable Ocean Alliance. 'PierSight is pioneering a new frontier in satellite-based maritime intelligence with its innovative use of Synthetic Aperture Radar technology. Gaurav and Vinit's technical depth, combined with their proactive business thinking, has been incredible. We are proud to back a team that's building the next-generation ocean observability stack, solving critical challenges in global shipping, security, and environmental tracking.' Sudarshan Pareek, Senior Vice President and Head of Ventures, CE-Ventures. The company successfully launched its technology demonstration satellite, Varuna, in December 2024 and qualified payload subsystems to TRL-7. PierSights's first commercial SAR + AIS (VDES‑enabled) satellite is in development for a mid‑2026 launch. Its maritime analytics platform, MATSYA, is under development with a planned Q4 2025 release, while a drone‑borne SAR system is in flight‑testing, slated for commercial availability in Q4 2025.
