The investment will fuel Pixxel’s mission to transform planet observation with advanced satellite technology.
Pixxel, a Bengaluru-based space tech startup specializing in hyperspectral imaging, has successfully amassed an impressive US$36 million in a Series B funding round, bringing its total venture funding to US$71 million. The funding round witnessed the participation of new investors, including tech giant Google, and continued support from existing investors such as Radical Ventures, Lightspeed, Blume Ventures, growX Ventures, Sparta and Athera. The startup has made history as the first-ever Google-funded Indian space-tech company.
Pixxel is currently engaged in the development of a cluster of Earth imaging satellites equipped with hyperspectral capabilities, which capture and analyze a wide range of electromagnetic wavelengths to provide detailed information about the composition and properties of objects. By utilizing special sensors on satellites, hyperspectral imaging has significantly transformed how we see objects on Earth, other planets and in space. With hyperspectral imaging, we can observe extremely detailed and high-resolution images on the ground and in space with more accuracy than with regular imaging methods.
Advancing climate insights and environmental monitoring
The new funds will be used by Pixxel to build the world’s first and highest-resolution hyperspectral constellation. This satellite network will provide valuable climate insights and environmental monitoring, including emissions, water pollution, gas leaks, oil spills, etc., on a global scale.
Moreover, the funds will support the development of Aurora, Pixxel’s AI-powered analytics platform, making hyperspectral analysis more accessible to a broader audience. The funding will also fuel Pixxel’s plans to launch six satellites in 2024, followed by an additional 18 satellites by 2025.
Pixxel’s hyperspectral satellites can take pictures using different colors of light and gather important information about the planet’s well-being. These advanced satellites, along with Aurora, can provide up to ten times more information compared to other satellites, and they can detect details fifty times more accurately.
“At Pixxel, we believe that the future of our planet lies in our ability to monitor and protect its health precisely. With this round of funding, we are even closer now to realizing our mission of building a health monitor for the planet, and empowering people around the world to make informed decisions about our collective well-being,” said Awais Ahmed, co-founder and CEO of Pixxel.
Pixxel’s growth has been notable, highlighted by the successful launch of three pathfinder missions and a five-fold increase in its customer base. In a significant development, the company has recently secured a five-year contract with the National Reconnaissance Office’s Commercial Systems Program Office (CSPO) for the Strategic Commercial Enhancements for Commercial Hyperspectral Capabilities program. This contract positions Pixxel to contribute to the growing demand for improved environmental, social and corporate governance (ESG) data monitoring and measurement, aiding organizations in meeting national and global sustainability standards.
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Header image courtesy of Pexels
Press Release link: https://www.pixxel.space/blogs/pixxel-raises-36-million-in-series-b-funding-to-advance-hyperspectral-satellite-constellation-and-data-platform
