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Agritech
Led by Shastra VC, the seed funding round also saw participation from Riverwalk Holdings and INVSTT
The Kolkata-based startup plans to utilise the fresh funds to strengthen its R&D capabilities and launch the world's highest resolution L-band SAR satellite by 2026-end
Founded in 2022, Sisir Radar has developed cutting-edge SAR systems for air-borne and space-borne platforms operating in various satellite frequency bands
Spacetech startup Sisir Radar has raised $1.5 Mn (INR 12.45 Cr) in its seed funding round led by Shastra VC. The round also saw participation from Riverwalk Holdings and INVSTT.
The Kolkata-based startup, which claims to have built India’s first drone-borne synthetic aperture radar (SAR) system, will utilise the fresh funds to strengthen its research and development (R&D) and manufacturing capabilities. It aims to launch the world’s highest resolution L-band SAR satellite by the end of 2026.
Founded in 2022 by Tapan Misra, former director of Space Applications Centre (SAC) at the Indian Space Research Organisation (ISRO), Soumya Misra and Urmi Bhambhani, Sisir Radar has developed cutting-edge SAR systems for air-borne and space-borne platforms operating in P/L/S/C/X satellite frequency bands.
SARs can be used to create high-resolution 2D images or 3D reconstructions of landscapes, giving detailed information on the physical properties of objects on the ground. SAR systems can offer detailed and high-resolution all-weather imaging even during rainy or cloudy conditions.
In addition, Sisir Radar has also developed a ground penetrating radar (GPR) system that uses radar pulses to create high-resolution 2D and 3D images of subsurface features, and can be used for infrastructure monitoring and bomb detection. The startup also offers drone-borne hyperspectral imaging solutions.
It also claims to have won two IDEX challenges to build specialised SAR satellites for the Indian Air Force (IAF).
Sisir Radar’s cofounder and CEO Soumya Misra said, “We are building world-class earth observation solutions to make India self-reliant and establish it as a global provider of high-resolution satellite imagery”.
The fundraise comes amid growing investor interest in the Indian spacetech sector. According to Inc42 data, homegrown spacetech startups have raised over $285 Mn between 2014 and 2023. However, funding declined 35% year-on-year (YoY) to $81 Mn last year.
Meanwhile, the government has pulled all stops to actively support the budding sector, with Indian National Space Promotion and Authorization Centre (IN-SPACe) recently launching an INR 500 Cr technology adoption fund to help spacetech startups build commercially viable products. The fund will cover up to 60% of project costs for startups and MSMEs, with a maximum funding cap of INR 25 Cr per project.
This also follows the union government announcing an INR 1,000 Cr venture capital fund for spacetech startups in the budget last year, further strengthening the sector’s growth prospects.
On the back of this, startups in the space have been raising capital in droves. Just a day ago, Bengaluru-based spacetech startup Astrogate Labs raised $1.3 Mn in a round led by Piper Serica Angel Fund.
In January, another spacetech startup Catalyx secured $1.7 Mn in its pre-seed funding round led by HF0 Residency. OrbitAID also bagged $1.5 Mn in its pre-seed round led by Unicorn India Ventures last month.
At the heart of all this is the Indian spacetech ecosystem which, as per Inc42, is projected to become a $77 Bn market opportunity by 2030.
