A consortium of deep-tech space companies led by Pixxel and consisting of SatSure, PierSight, and Dhruva Space have entered into an agreement with the Indian Space Promotion and Authorization Center IN-SPACe to form a Public-Private Partnership to build India’s first fully indigenous constellation of 12 earth observation satellites over the course of the next 5 years, at an estimated project cost of more than ₹1,200 crores / $130 million.
Trilegal advised the consortium lead Pixxelspace India Private Limited on its winning bid to design, build, and operate the EO satellite constellation.
The transaction team was led by Abhishek Dubey (Partner), with support from Ishita Sinha (Senior Associate) and Associates Sagnik Sarkar and Aditya Kaushik.
Shardul Amarchand Mangaldas & Co advised IIFCL Projects, the transaction adviser to IN-SPACe, on this transaction.
The transaction team was led by V.R. Neelakantan (Partner) and Ankita Kumar (Partner), with assistance from Aditya Mitra (Principal Associate), Rudra Shankar (Senior Assocaite) and Tanya Srivastava (Associate).
DSK Legal assisted and advised SatSure Analytics India Private Limited. The scope of work of DSK Legal included finalising the transaction documents for the Consortium. Further, DSK Legal will continue to provide ongoing support to SatSure during the project lifecycle.
The transaction team consisted of Sharath Chandrasekhar (Partner), Aravind Karunakaran (Associate Partner), Srinandini Kar (Associate) and Arjun Mallik (Trainee Associate).
SatSure’s role in this mission focuses on optical and multispectral payload systems designed for wide coverage, high special resolution and downstream usability with the belief of maximizing the value generated from every pixel of satellite imagery.
Ikigai Law advised Piersight Space Private Limited on this arrangement.
The transaction was led by Nimisha S. Dutta (Lead Counsel).
Pixxel is a deep-tech space company that specialises in the distribution of hyperspectral imagery and operates a constellation of six of the world’s highest resolution, commercial-grade hyperspectral earth observation satellites known as the 'Firefly' constellation.
The constellation will integrate high-resolution optical, multispectral, hyperspectral, and synthetic aperture radar (SAR), payloads, supported by a network of ground infrastructure, and provide satellite imagery, value-added services, and analytics, to its customers.
The project represents a milestone in the development of an indigenous earth observation satellite constellation that can serve both private, as well Indian government and strategic, customers.
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