Pixxel’s total venture funding stands at $71 million.
Indian Earth imaging and satellite technology startup Pixxel announced on Thursday it has raised $36 million in a Series B funding round with participation from new investors such as Google, among others. Radical Ventures, Lightspeed, Blume Ventures, growX, Sparta, and Athera also participated in the financing round.
Pixxel plans to deploy the fresh funds to build what it claims to be the world’s first and highest-resolution hyperspectral satellite constellation. In addition, the Bengaluru-based company will use the new funds to develop Aurora, Pixxel’s AI-powered analytics platform to make hyperspectral analysis accessible for everyone. Furthermore, the funding will help bolster the company’s plans to launch six satellites in 2024 and 18 other satellites by 2025.
“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,” co-founder and chief executive officer of Pixxel Awais Ahmed said.
Awais Ahmed and Kshitij Khandelwal, alumni of the Indian Institute of Space Science and Technology, founded Pixxel in 2019 with the goal to offer high-resolution satellite images and data analytics services to a range of industries. Pixxel further aims to create a constellation of Earth-imaging satellites that can take high-quality images of the Earth and provide crucial data to global organizations to quickly and in unprecedented detail monitor pollutants, water pollution, petrol leaks, oil spills, soil composition, forest biodiversity, and crop health.
The startup gained recognition when it secured a contract from the Indian Space Research Organisation to launch its first satellite “Anand” on ISRO‘s Polar Satellite Launch Vehicle (PSLV) in early 2021. Anand’s successful launch marked a significant turning point for Pixxel, making a way for it to deploy its satellite constellation.
Pixxel is a part of the growing ecosystem for space technology in the country and has drawn interest and funding from several investors and partners. The company says its total venture funding currently stands at $71 million, and new investors join existing backers like Lightspeed, Radical Ventures, Accenture Ventures, Relativity’s Jordan Noone, Seraphim Capital, Ryan Johnson, Blume Ventures, Sparta LLC, growX Ventures, Athera Venture Partners, Omnivore VC among others.