Polish company Satim secures €1.8M to advance satellite data processing
Kraków-based company Satim has secured €1.8 million in the latest investment round to advance its software solution for processing satellite data of military and maritime objects. Cultivation Capital is the lead investor. Verissimo Ventures, The Flying Object, Everywhere Ventures, Hustle Fund, Startupist Ventures participated in the round, EU-Startups reports.
- Founded in 2012 by Jacek Strzelczyk and Stanisława Porzycka-Strzelczyk, Satim provides insights based on satellite radar data acquired regardless of weather and day/nighttime. Using developed software and algorithms, the startup can solve the problem of optimal information extraction from complex SAR (synthetic aperture radar) imagery.
- Satim has already gained significant recognition for its 90% accurate object classification, providing a comprehensive solution for strategic military sites monitoring and maritime situational awareness.
“I am thrilled and grateful to have the backing of such exceptional investors in our latest funding round. 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,”Jacek Strzelczyk, CEO of Satim, comments.
- Cultivation Capital is the lead investor during this round. It is a US-based VC firm recognized for its expertise in early-stage investments with a particular interest in geospatial technology.
- Other participants in the round included Verissimo Ventures, The Flying Object, Everywhere Ventures, Hustle Fund, Startupist Ventures, and one undisclosed investor from Eastern Europe.
- The fresh funds will play a pivotal role in driving Satim’s goal to revolutionize the transformation of complex satellite SAR data into actionable insights. It will focus on serving the military, government, and commercial maritime sectors.