HomePolandSatim Raises Funding Round

Satim Raises Funding Round

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balnord

Satim, a Krakow, Poland-based AI technology company specializing in object detection and classification using Synthetic Aperture Radar (SAR) satellite imagery, secured funding in an internal funding round of undisclosed amount.

The round was led by Balnord with participation from Cultivation Capital, Verissimo Ventures, and Techstars.

The company intends to use the funds to advance its AI-augmented SAR solutions and secure its position as a global leader in the field.

Led by CEO Jacek Strzelczyk, Satim is an AI technology platform for object detection and classification using SAR satellite imagery. With a dedicated team of data scientists, remote sensing experts, AI and SAR specialists, and marine situational awareness experts, the company delivers solutions to military, government, and commercial sectors.

In the first years of its existence, the company worked closely with the European Space Agency to develop new algorithms for information extraction from SAR data, securing 1.5M EUR in non-dilutive grants. The team went through top European and US space industry accelerators, Space3ac and Techstars Starburst Space Accelerator, which were drivers for building the company’s overall strategy and achieving accuracy in object detection and classification. Today, the team includes data scientists, remote sensing experts, AI and SAR specialists, and ex-military personnel with a wealth of knowledge and experience. The company’s AI-based software transforms complex satellite data into actionable insights by automatically providing information on objects detected and classified with a 90% accuracy rate, cementing its position as a critical player in the defense, government, and commercial maritime sectors.

Satim has become a Certified Analytics Partner of Capella Space, and is working closely with other SAR providers including ICEYE, MDA, Umbra and Synspective. Since its last funding, the company has also expanded its catalog of vessels that could be automatically classified on SAR images from 28 to 110 classes and launched new models for aircraft and vehicle detection and classification establishing SATIM as a leader on the market.

FinSMEs

19/09/2024

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