Polish company Satim has secured €1.8 million in their latest investor round to advance its AI-based, cutting-edge software, for automatic object detection, identification and classification capabilities anytime, anywhere using satellite SAR (synthetic aperture radar) imagery.
The round was led by Cultivation Capital, a venture capital firm recognized for its expertise in early-stage investments with a particular interest in geospatial technology. Also participated in the round Verissimo Ventures, The Flying Object, Everywhere Ventures, Hustle Fund, Startupist Ventures, and an undisclosed investor from Eastern Europe.
This 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.
“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,” said Jacek Strzelczyk, CEO of Satim.
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.
“Satim’s automated classification technology delivers tremendous value to commercial and defense 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,” commented Paul Meier, Partner at Cultivation Capital.
“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,” added 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.
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.