🎙️ As Varuna's launch draws closer, we had the privilege of sharing our journey on CNBC-TV18!
Yesterday evening, our founders, Gaurav Seth and Vinit Bansal, sat down for an engaging interview with Ritu Singh to talk about the Varuna Mission and PierSight.
The interview covered our vision, 9-month journey, monetization plans, scaling strategy, ISRO’s support, and how we are leveraging India’s ecosystem to scale globally.
Hearing our story on such a platform reminded us of how far we’ve come and the incredible journey still ahead. 🙌
We’re excited to continue pushing boundaries in space-tech! 🚀
#spacetech#satellite#varunamission#news
Let's start up, your site is in walled. It's made in satellite Barona, which will deliver 24/7 all weather maritime surveillance. Barona will fly from East Rose PSLV launcher as a secondary payload aboard the PSLV orbital experiment platform. Now on that note, let me invite both the cofounders of PSI Gaurav said the CEO of the company as well as Vineet Bansal, its chief technology officer. Gaurav Vineeth, welcome to startup St. and Many thanks for your time here, Gaurav. Start by telling us about by Varuna why you chose to build this. And the tech that you're using for this all weather maritime surveillance, no matter the weather conditions. Right. So Varuna is inorbit demonstrator of Synthetic Aperture Radar or SAR. SAR is a technology which can see through clouds and image at night. So we are using the POEM platform of ISRO to demonstrate indigenously developed subsystems for ourselves, which are the deployable antenna as well as complete electronics and mechanical and thermal systems. All right, well, we need, you know, what's really remarkable is that we are scientists built Marina in just nine months. How did you manage costs and timelines and risks to achieve this in an industry where, you know, 18 to 24 months is the norm? Yeah, I think a strong, strong domain expertise in building satellites, I mean both me and Gaurav comes from the background of building satellites really helped us put together again a very strong team who could build this in a very short span of time. And I think the other thing which helped was a hard deadline from Israel that if we don't finish this by this deadline, we will be losing our slot. And lastly, we have a very strong push towards indigenization. And since we were indigenizing everything, we could bring this in a very low cost as well as manage the timelines very effectively. Well, this was deadline, definitely an incentive to build this pastor with Gaurav. What about monetization plans for your satellite technologies, the constellation? What industries have governments have shown most interested in Varanasi capabilities so far? Side was the winner of Intersex Prize which was with the Indian Coast Guard as well as the US Coast Guard. And with respect to government agencies, agencies like Department of Trade, fisheries, maritime companies, insurance companies as well as hedge funds will be benefited from our technology. We'll be able to image all parts of options at all times once our constellation is complete. All right. And Vinita, what about the timeline and strategy for scaling Varuna from, you know a full-fledged to a rather full-fledged satellite constellation and how do you, how will you ensure that there is rapid development for future satellites as well with or without the Easter deadline? Yeah, we plan to I mean fully launch our constellation and operationalize that by 2028 with first launch being planned for next year, full commercial launch being planned for next year followed by regular launches year on year till 2028. We have also launched an early access program on our website to understand customers interests. While first few satellites will go into an orbit which supports Indian customers, we want to get the global interest to see in which orbital planes we should put our satellites, future satellites so that they're most. Usable by the customers and with respect to technology, this Varuna mission will ensure or will help us prove the flight worthiness of majority subsystems and we plan to use the same subsystems for our future satellites, making them future proof, scalable and modular. All right, Gaurav, you don't ask. Varuna prepares to launch a boat. Astros, PSLV, how has their infrastructure supported your mission? If you could elaborate on that and if you see further partnerships with India Space Agency? Yeah. So, you know, in order to build a satellite before launching, you need to subject it to various environmental tests like vibration shakers as well as, you know, thermal vacuum tests. So for a private company to build this infrastructure, you know, it would not be possible within nine months. So we've used in Spaces Technical Center here in Ahmedabad for all of the testing as well as development in dedicated clean rooms. And this has ensured that, you know, we could adhere to such strict timelines of. Nine months from start to end as well as in future. We, you know, plan to collaborate with this row for future launches of our constellation as well as also we are keen on taking several technologies from Mr. which they are offering to private companies. We're going, we're going to keep a close eye on those launches and partnerships. But before we let you both go beneath, you know, India is emerging as a half a space startups. What do you think is going to set Pierce right apart and how are you leveraging India's growing ecosystem scale globally as well in future? Yeah. So, uh, as I mentioned, uh, I mean, we have a very strong expertise in the team in building satellites. So our strong domain expertise helps us, sets us apart. The other thing which sets us apart is again, the strong focus towards indigenization, building the technology in India at a very low cost and very rapidly. So we will be able to service global customers very rapidly by launching these satellites very quickly, right. Lastly, talking about the Indian ecosystem, ISRO has put India on the world stage, I mean, of being the one of the most reliable space. Organizations which led to a setup of a strong space ecosystem in the country. We have almost all suppliers available in the country for our satellite. More than 70% of the satellite is indigenized and are is being done with suppliers from India. And we have also got a strong talent which came out from ISRO and DRDO which is in helping us leverage the ecosystem to deliver these satellites quickly. All right. On that note, Gaurav and Vineet, Many thanks for your time here on CNBC TV 18 and we look forward to these launches and we wish you all the very best with your space ventures. Thank you. Thank you so much. Thanks you too.
Reg. Tech. Mgr (North, East & West India)
FEA/CAE/Multiphysics Simulations Expert
Helping All Startups and Small Scale Industries
Founder & Director - 2 EV StartUps
India is reshaping the global spacetech landscape with a slew of pioneering innovations, progressive policies, and emerging business opportunities. Join in to dive into the latest advancements and strategies that are positioning India at the forefront of the space industry.
Speakers:
📌 Dr Pawan Goenka, Chairman of IN-SPACe, will share insights on India’s space exploration initiatives and the role of IN-SPACe in accelerating growth.
📌 Dr Ajai Chowdhry, Founding Member of HCL and Board Member of IAN Group (formerly Indian Angel Network), will discuss the intersection of technology, innovation, and investment in spacetech.
🗓️ Date: 24th September 2024
Don’t miss this opportunity to hear from the visionaries who are shaping the future of spacetech in India: https://lnkd.in/dWx3r_Ui#SpaceTech#Innovation#IndiaSpace#IN-SPACe #TechAdvancements#SpaceIndustry#BusinessOpportunities#FutureOfSpace
Significance is being marked by VC-backed companies in their preferences for secondary share sales. As IPO trajectories keep getting lengthier, businesses are shifting their focus towards these secondary sales, a prime example of business adaptation.
SpaceX stands tall among these adaptors as it experiences a notable year bring culminated by an extraordinary tender offer for secondary sales. This is certainly not just a testament to the changing business landscape, but also exhibits the forward-thinking approach in the path of securing wider financial base.
Securing wider financial base in the present market that's increasingly unpredictable, extending IPO timelines is an inevitable choice for many. However, leaning into secondary share sales is what signifies the true mettle of a company.
Get to know more about this ingenious adaptation undertaken by leading businesses. Click the link to delve deeper into this new financial revolution: https://lnkd.in/gb3Gqnn2#SecondaryShareSales#SpaceX#BusinessAdaptation
📢 We're delighted to share that Unseenlabs has successfully raised an €85M funding round to further our mission in transforming maritime surveillance from space! 🛰️✅
This round, led by Supernova Invest, with significant contributions from ISALT via its Strategic Transition Fund and UNEXO, alongside our historic partners, Bpifrance, 360 Capital, Omnes, S2G Ventures & UI Investissement, marks a pivotal step in expanding our capabilities and reinforcing our leadership in space-based RF detection. This investment will empower us to launch additional satellites, enhancing our constellation and ensuring Unseenlabs remains at the cutting edge of Maritime Domain Awareness.
Since our inception, Unseenlabs has become a crucial player in maritime surveillance, supporting clients globally with our innovative RF detection technology. Our constellation has already made significant strides in improving the safety and transparency of maritime activities.
🌍 With this funding, we're set to accelerate our impact, reaching further into international markets and developing new solutions that address the evolving needs of the maritime sector.
🤝 We're profoundly thankful for the support from our investors and partners. Your trust fuels our commitment to innovate and lead in safeguarding our oceans.
Stay tuned as we embark on this exciting phase of growth, driven by our vision to create a safer and more transparent maritime environment for all!
Read our press release here: https://lnkd.in/eQ2drb4nBarclays | Agence de l'innovation de défense#NewDimension#Fundraising#FundingRound#MaritimeSurveillance#Space
AG DILLON & CO PRE-IPO STOCK MARKET UPDATE - MAR 8, 2024 | Download = https://buff.ly/49XfVXQ
In this report...
- Stripe 2024 revenue at $17b?, only 3.8x multiple! ... totally undervalued at $65b, in my opinion
- Telegram’s $30b valuation! ... where did this come from! ... the sleeper IPO!
- SpaceX Starship successful 3rd test-flight ... its emotional watching this rocket go up, SpaceX has a monopoly on space payload delivery and satellite internet ... monopolies!
- Tiktok US at $153b valuation if standalone biz? ... in an odd twist, can the US forcing a TikTok US divesture be great for existing shareholders?
Pacome Revillon, CEO of Novaspace (Merger of Euroconsult & SpaceTec Partners) concluded a successful World Satellite Business Week #WSBW by honouring space sector leaders, including a cohort of businesses for the Excellence in Earth Observation Awards. Winners including:
BlackSky, for Leading In EO Business, SI Analytics, for Newcomer Information Business, D-Orbit, for Pioneer Space Business , and finally NorthStar for Sustainable Development and Business. Also, ODYSSEUS Space, winner of the Finspace Competition for emerging start-ups, is honoured with us on the podium.
Highlighting the achievements of other players in the commercial space sector enriches our understanding of how the sector is evolving. In our case, commercial SSA services will enable EO and other LEO players to coexist safely and avoid collisions. Accessing prime orbital regimes with precise and timely collision avoidance assistance will enable sustainable development in near-Earth space.
Thank you to everyone at Novaspace Summits (Merger of Euroconsult and SpaceTec Partners) for organising this event and helping the commercial space sector.
#commercialspace#spacetech#innovation#sustainability
Deputy Director IN-SPACe Promoting Private Space Activities in India
3wImpressive growth! There’s a lot of hard work behind all these achievements.