Pixxel, a company that launched private commercial satellites in space announced USD 36 million in a Series B funding round with 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, 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, delivering actionable climate insights on a planetary scale.
The company said 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 bolster Pixxel’s plans to launch 6 satellites in 2024 and 18 other satellites by 2025.
“With this round of funding, we are even closer now 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 it's hyperspectral satellites can capture images at hundreds of wavelengths in the electromagnetic spectrum and reveal key data about the health of the planet. Both the hyperspectral constellation and advanced data analytics platform will provide up to 10x more information compared to today’s multispectral satellites in space and increase the spectral resolution available by 50x.
Pixxel has recently the launched a 5-year contract with the NRO Commercial Systems Program Office (CSPO) for the Strategic Commercial Enhancements for Commercial Hyperspectral Capabilities program.