30 Fastest Growing Companies in Asia 2019 30 Fastest Growing Companies in Asia 2019 | Page 49

Prateep Basu Co-founder & CEO
(India) of SatSure
Prateep Basu has extensive experience of
8 years working in the space industry across
US, Europe and India. Prateep started his
career at Indian Space Research Organization
(ISRO) as a scientist involved in project
management for launch station. Post ISRO,
Prateep completed his Master of Science in
Space Technology and worked as a consultant
at Northern Sky Research for 3 years before
starting up SatSure, along with Abhishek Raju,
Ishan Tomar, and Rashmit Singh Sukhmani.
in developing countries using
advanced space technology.
Hence, SatSure’s focus is to work
with organizations like Banks,
MFIs, Insurance Companies, and
Government organizations to help
them run their operations and
provide services to the remotest
part of the country, effectively and
efficiently. However, the transition
for clients from initially being
unaware of satellites and remote
sensing to using the data insights
today to drive their operations and
key decisions took time. It required
educating the clients and the
industry about the science behind
our technology. SatSure themselves
were being continuously educated
about the complexity of operations
across industries. There are still a
few more years for the industry to
mature due to human resource and
technology constraints. By looking
back at their journey, SatSure
can undoubtedly claim that it has
been fruitful with more positives
than negatives, and this wouldn’t
have been possible without the
continuous support of a few key
customers, institutions and people
who believed in the technology
“
SatSure leverages advances
in satellite remote sensing,
machine learning and big data
analytics to provide answers
to large area questions across
multiple domains.”
and the capability of SatSure to
deliver, irrespective of being a
startup. The mutual exchange of
knowledge has been an essential
part of SatSure’s growth, and the
company tries to follow the same
philosophy for every new industry
they enter, knowledge exchange
helps SatSure build robust
products.
Impact and future
SatSure disrupted the agriculture
banking data analytics market
by bringing highly accurate and
timely assessments made by
analyzing alternate datasets such
as satellite imagery and weather.
However, there were no similar
products in the market then,
and thereby SatSure adopted
a ‘customer-centric’ iterative
product development, which
required regular feedback from
the industry to be able to build
products in an agile manner.
The same culture is followed
internally as well, with feedback
from everyone playing a pivotal
role in shaping the products,
business, and SatSure’s growth.
SatSure has been continuously
evolving its products and
solutions to stay abreast with the
industry requirements. SatSure
doesn’t want to be too ahead of
the curve, nor fall behind in its
innovation quotient. SatSure’s
banking product has matured
and has users across banks and
NBFCs globally. Disaster insurance
solutions were initially built
for a minimal use case, which
found direct application in the
2018’s Kerala floods, which
helped the state Government plan
evacuations saving many lives.
This has been one of the proudest
moments for the company. In
the coming month, SatSure will
be releasing the end-to-end
insurance product for agriculture
and property and infrastructure.
The solution is built, keeping in
mind the requirements of insurers
and re-insurers in the times of
unpredictable weather events. This
new launch will be another critical
milestone product for the company
in the area of infrastructure,
diversifying the portfolio in
this vertical from the current
construction change detection
product.
SR
DECEMBER 2019
49