All In Capital Leads $600K Pre-Seed Funding For PierSight

PierSight has raised $600K in a pre-seed round led by All In Capital. Along with an investment of $200K from All In Capital, the round also saw participation from entrepreneurs, angel investors such as Andreas Klinger, Vismay Agrawal, and Nikunj Jalan, amongst others. The early-stage start-up investment firm and accelerator Techstars also participated in the round.

PierSight aims to provide persistent ocean surveillance through a constellation of Synthetic Aperture Radar (SAR) Imaging and Automatic Identification System (AIS) satellites. Its central objective is to provide continuous monitoring of maritime operations in 30-minute intervals, a service unparalleled in the industry.

PierSight has been selected as one of 12 global start-ups selected to join the esteemed fall cohort of the Techstars Space Accelerator. Selection in this accelerator program, conducted in partnership with NASA's Jet Propulsion Laboratory and the United States Space Force, validates PierSight's exceptional potential and commitment to advancing the frontiers of maritime monitoring technology. 

PierSight will deploy funding towards advancing its satellite subsystems by strengthening its talent pool and procuring essential electronic components for integration and comprehensive testing. It is also looking to partner with social and environmental agencies for solutioning, developing prototypes, and collaboration on studies.

Speaking on the funding, Gaurav Seth, co-founder & CEO, PierSight said, “Our engagements span a diverse spectrum of clients, encompassing island nations, government commerce divisions, and environmental agencies, all of whom share a pressing concern about the pervasive exploitation of Exclusive Economic Zones. Our innovative approach combines Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) technologies deployed via satellite, providing a comprehensive solution to address this complex problem.” 

Commenting on the investment, Kushal Bhagia, founder, All In Capital, said “Maritime surveillance presents an immense global challenge due to widespread issues such as illegal fishing, contraband smuggling, terrorism, and environmental offences like oil spills. Monitoring activities across the vast expanses of the ocean is a monumental task for humans alone. Therefore, we were incredibly enthused to learn about PierSight's innovative solution to this problem."