Pixxel, a company that has launched private commercial satellites in space, has announced a USD 36 million investment in a Series B funding round. The funding round includes participation from new investors, such as Google, along with existing investors Radical Ventures, Lightspeed, Blume Ventures, GrowX, Sparta, and Athera. With this funding, the company has raised a total of USD 71 million, making it the highest-funded space tech startup in India.
The new funds will advance Pixxel's mission to build the world's first and highest-resolution hyperspectral satellite constellation. This constellation aims to deliver actionable climate insights on a planetary scale. The company stated that the data from Pixxel's satellites will be critical in helping global organisations closely monitor emissions, water pollution, gas leaks, oil spills, soil composition, forest biodiversity, and crop health in unprecedented detail and at faster speeds. Additionally, the new funds will support Pixxel's plans to launch six satellites in 2024 and 18 other satellites by 2025.
"With this round of funding, we are now even closer to realising 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 claims that its hyperspectral satellites can capture images at hundreds of wavelengths in the electromagnetic spectrum, revealing key data about the planet's health. Both the hyperspectral constellation and advanced data analytics platform will provide up to 10 times more information compared to today's multispectral satellites in space and increase the spectral resolution available by 50 times.
Recently, Pixxel has launched a 5-year contract with the NRO Commercial Systems Program Office (CSPO) for the Strategic Commercial Enhancements for Commercial Hyperspectral Capabilities program.