Pixxel, a company that launched private commercial satellites in space, announced that it had raised USD 36 million in a Series B funding round. This round also included participation from previous investors Radical Ventures, Lightspeed, Blume Ventures, GrowX, Sparta, and Athera, as well as new investors like Google. The company has now raised a total of USD 71 million, making it India’s highest-funded startup in space tech.
The new funding will help Pixxel further its goal of developing the first and most advanced hyperspectral satellite constellation, providing global-scale, actionable climate insights.
The company said that Pixxel’s satellite data would be crucial in assisting global organizations in closely monitoring emissions, water pollution, gas leaks, oil spills, the composition of the soil, forest biodiversity, and crop health in unprecedented detail and at a faster rate. The additional funding will support Pixxel’s plans to launch 6 satellites in 2024 and 18 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,” said Awais Ahmed, Co-founder and CEO of Pixxel.
According to Pixxel, their hyperspectral satellites can capture images at hundreds of electromagnetic spectrum wavelengths and give vital information on the condition of the globe. Compared to the multispectral satellites in space today, the hyperspectral constellation and advanced data analytics platform will offer up to 10x as much information and 50x higher spectral resolution.
“We are incredibly grateful to our world-class investors for their unwavering support and belief in our vision and are excited to work together to create a meaningful positive impact on the future of our planet,” Ahmed added.
Pixxel launched a 5-year contract with the NRO Commercial Systems Programme Office (CSPO) for the Strategic Commercial Enhancements for Commercial Hyperspectral Capabilities programme.