SATIM raises a round led by BALNORD to boost AI-driven SAR technology

Since its inception, the company has made significant strides in AI-driven analysis of satellite SAR imagery. It was established by amazing technical founders with Ph. Ds in satellite remote sensing. In the first years of its existence SATIM was working 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 unparalleled accuracy in object detection and classification. Today, the SATIM 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 unique 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.

The company’s recent partnerships underscore its growing influence in the geospatial industry. SATIM has become a Certified Analytics Partner of Capella Space, and is working closely with other SAR providers including ICEYE, MDA, Umbra and Synspective. All those partnerships enhance the company’s ability to provide cutting-edge SAR-derived object detection and classification solutions compatible with all SAR data sources and types. 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 true leader on the market.

Additionally, the company has joined the United States Geospatial Intelligence Foundation (USGIF), marking a significant milestone in expanding its global engagement. It’s technology has also been integrated into SkyFi's analytical suite, utilizing SAR data from partner Umbra.

The internal funding round was led by one of the current SATIM’s investors: Balnord, a high conviction first check investor backing deep tech and data-driven software founders in Poland & Baltics. Balnord, so far, allocated a total of EUR 1,4M in the company and has a follow-on reserve to invest up to EUR 7M in a single portfolio company. Having long-term investors who can provide internal rounds is advantageous for tech companies like SATIM, as it expedites funding processes and allows the company to focus more on technology and business development.

The company is supported by other confident investors who provided follow-on tickets during the internal round: Cultivation Capital, a venture capital firm renowned for its early-stage investments in geospatial technology, Israel-based Verissimo Ventures, and Techstars, a globally recognized accelerator and early-stage investment fund. Their collective participation underscores the strong belief in the company’s deep tech solutions and allows it to continue working on its growth.

The satellite monitoring market plays a crucial role in enhancing situational awareness and defense capabilities. By providing real-time data and imagery from space, satellite systems allow for continuous observation of vast areas, enabling early detection of potential threats, tracking of military movements, and assessment of environmental conditions that could impact operations. This technology supports decision-making processes by delivering high-resolution, up-to-date information, which is vital for both national security and international cooperation. As geopolitical tensions rise and the need for global monitoring increases, satellite surveillance is becoming an indispensable tool for maintaining strategic advantages and ensuring defense preparedness. SATIM is at the forefront of this transformation, offering unparalleled AI-based tools for analyzing geospatial information.Dual-use technologies, which serve both civilian and military purposes, are particularly crucial as they offer versatile applications and enhance adaptability in addressing diverse challenges. Governments and organizations are prioritizing investments in advanced technologies that provide real-time, actionable intelligence. SATIM’s capabilities position it as a key player in aiding nations in navigating complex global challenges, ensuring security and stability while fostering international cooperation. The dual-use character of SATIM’s technology reflects in its usefulness both in the Space-based and Airborne Intelligence, Surveillance and Reconnaissance market (valued at $36B in 2020), as well as in many commercial markets including Maritime Surveillance ($22B in 2020), Port Capacity Monitoring ($85B in 2020), Pipeline Monitoring ($13.2B in 2020), and others. 

With this new funding, the company is poised to advance its AI-augmented SAR solutions and secure its position as a global leader in the field. The company plans to expand its tech team with AI specialists and SAR analysts, intensifying its international development and reinforcing its position in key geopolitical regions and NATO countries.

SATIM is a pioneering force in AI technology 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, SATIM delivers highly accurate and innovative solutions tailored to the needs of military, government, and commercial sectors.

Balnord is a high conviction first-check investor, investing in the most ambitious tech founders in Poland and Baltics. Balnord's investment focuses on deep tech and data-driven software including dual-use. We are one of the few early stage investors in the region capable of deploying up to 7M EUR, utilizing our ex-entrepreneur and operator background, we are hands on investors working only with a selected number of companies.