Riyadh - Sharikat Mubasher: SARsatX, a Saudi promising space startup that designs and develops small satellites, is gearing up to raise a new funding round in early 2024, CEO Ahmed Alzubairi told Sharikat Mubasher.
The deep-tech startup will dedicate the planned funding to boost the satellite payload design and manufacturing.
Recently, SARsatX secured 800,000 in a pre-seed round from King Abdullah University of Science and Technology (KAUST) Innovation Fund.
Speaking about future expansions, Alzubairi stated that SARsatX plans to expand its satellite network, enhance data analytics capabilities, explore new markets, and develop innovative applications for earth observation (EO) data, in line with the Saudi Vision 2030.
It is worth mentioning that SARsatX participated in COP28 to showcase how synthetic aperture radar (SAR) technology aids in climate change mitigation by monitoring environmental changes, facilitating disaster response, and supporting sustainable development.
SARsatX, a spinoff startup from KAUST, is one of the promising Saudi startups that uses deep technology to design and develop small satellites for earth observation (EO) purposes using SAR technology. It provides data for many sectors, including agriculture, environment, financial, oil & gas, and insurance to support decision-makers.
