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Pixxel Secures $36 Mn In Series B Funding, Google Participates
The funding round witnessed the participation of tech giant Google, alongside existing investors including Radical Ventures, Lightspeed, Blume Ventures, GrowX, Sparta and Athera
Photo Credit :
Awais Ahmed (Founder, CEO and Chief Engineer at Pixxel)
Pixxel, an Indian space technology startup, has successfully secured USD 36 million in a Series B funding round, bringing the company's total venture funding to USD 71 million.
The funding round witnessed the participation of tech giant Google, alongside existing investors including Radical Ventures, Lightspeed, Blume Ventures, GrowX, Sparta and Athera.
The fresh injection of capital will enable Pixxel to advance its ambitious mission of building the world's first and highest-resolution hyperspectral satellite constellation. This constellation will look to deliver actionable climate insights on a planetary scale, empowering global organizations to closely monitor critical environmental factors in unprecedented detail and at faster speeds.
Pixxel's groundbreaking hyperspectral satellites possess the capability to capture images across numerous wavelengths in the electromagnetic spectrum. This cutting-edge technology provides valuable data on a wide range of environmental parameters such as emissions, water pollution, gas leaks, oil spills, soil composition, forest biodiversity, and crop health. Compared to existing multispectral satellites, Pixxel's satellites offer up to 10 times more information and a 50-fold increase in spectral resolution.
In addition to enhancing their satellite constellation, Pixxel will utilise the funding to further develop Aurora, their AI-powered analytics platform. Aurora aims to democratize hyperspectral analysis by making it accessible to a broader audience, revolutionizing the way environmental data is utilized for informed decision-making.
The company's impressive roster of investors, including Lightspeed, Radical Ventures, Accenture Ventures, and others, further underscores the confidence in Pixxel's vision and potential to drive positive change in global environmental monitoring.
Awais Ahmed, co-founder and CEO of Pixxel, expressed gratitude for the unwavering support and belief of their world-class investors. He emphasised the company's dedication to building a health monitor for the planet, working towards empowering individuals worldwide to make informed decisions that contribute to the collective well-being.
Pixxel saw remarkable growth in 2022, including the successful launch of three pathfinder missions and a five-year contract with the NRO Commercial Systems Program Office, has positioned the company as a frontrunner in the Indian space tech startup ecosystem. The company's plans to launch six satellites in 2024 and an additional 18 satellites by 2025 demonstrate its commitment to expanding their operational capacity and impact.