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Imagine a company that can predict what part of the highway is more prone to accidents today or which road is going to get blocked due to waterlogging. 

Computational Imaging (CI Metrics), a Gurugram-based startup, is turning this vision into reality using satellite data and artificial intelligence (AI) to provide businesses with real world, actionable insights. 

Founded in 2021 by Gagan Agrawal and Abhishek Patil, who completed their BTech from Indian Institute of Space Science and Technology, Kerala, CI Metrics is using satellite imagery with AI to solve complex real-world problems. It leverages cutting-edge technology to predict road accidents, identify traffic blockages due to waterlogging, and provides solutions that were once considered impossible with traditional data sources.

Agrawal and Patil’s dream of establishing a research and development (R&D) lab in the spacetech and satellite sector was the driving force behind the creation of CI Metrics.

“Now is the time to pivot from R&D based consulting model to a more SaaS based model, because we now see about 7-8 use cases that very well defined and we are able to verticalize and build and charge on that consistently,” Agrawal tells YourStory.

Agrawal had earlier stints as a scientist with ISRO and then Satellite Finance lead with Northern Sky Research (now part of Analysys Mason). Patil was a scientist and software engineer with ISRO for more than nine years, bringing strong understanding of satellite data collection and usage after working on missions such as Chandrayaan, High resolution Cartosat, Hyperspectral Hysis. They currently work with a small team of six employees. 

How it works?

The B2B and B2G (business to government) startup offers real world insights for businesses across sectors like mobility, logistics, agriculture, and insurance. It taps into a vast repository of satellite data that spans 25 years and beyond. This includes thematic data, population and traffic, weather patterns, and terrestrial data, among others. 

Using the raw satellite data, the company creates a standardised data structure or model, referred to as data ontology. This model organises different types of data and links them with physical relationships, such as impact of weather on traffic, crop yield, etc., to push out real world insights—both historical and forecasts.

CI Metrics uses machine learning and deep technology in its data models, which allows the company to predict events and forecast outcomes with high accuracy.

By combining satellite data with other sources, the company provides insights to industries and helps them predict crop performance or weather events that might affect their supply chains. Similarly, FMCG and commodities companies can better understand macro trends and apply them to localised areas to forecast demand or risks.

The market and business

The company has three primary sources of income—project-based fees, revenue from its subscription model, and billings from clients based on time and material being used (R&D oriented). Its minimum contract value starts at Rs 15 lakh and gets scaled based on assets being monitored and reports required. 

In FY24, the company achieved mid-six figures in USD revenue, serving nearly 10 clients. For FY25, the company is targeting an Annual Recurring Revenue (ARR) of approximately Rs 4 crore.

Some of its prominent clients include Allianz Partners, an insurance firm; Google-backed Pixxel – a hyperspectral operator, and the Ministry of Agriculture and Farmers Welfare, Government of India.

Their clients can access these analytics using a dashboard, which can zoom down on a farm parcel or a 3×3 km forecast level depending on the application. 

Agrawal claims the company hasn’t seen any strong forecasting startups. The domain is either on the weather side or the actuarial side with the insurance companies. 

The bootstrapped startup aims to operate as a B2B middleware company, sitting between satellite/weather data providers and companies using this data, such as insurers, farmers, and loan providers. It aims to focus on R&D and large clients, not direct consumer solutions.

India’s space economy is currently valued at just 2% of the global market in 2024, but the country is aiming for significant growth. The government has set an ambitious target to expand its space economy to $44 billion by 2033, capturing 8% of the global market. In addition to this, India plans to export $11 billion in space products, according to a report by Remfry & Sagar. 

This comes after Dr Jitendra Singh, Union Minister of State for Science & Technology and Minister of Space, flagged government’s push towards increasing public private participation (PPP) in the sector in a union meeting earlier this year. 

The startup made it to YourStory’s TechSparks, one of India’s premier startup events, this year. It was part of the Tech30 list this year, highlighting its potential as one of the most promising startups in the country for 2024.