Pixxel Raises $36 Million in Series B Funding to Advance Hyperspectral Satellite Constellation and Data Platform
LOS ANGELES & BANGALORE, India , June 01 /Businesswire/ - Pixxel, a leader in cutting-edge hyperspectral earth-imaging technology, announced $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.
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. It will also help further the development of Aurora: Pixxel’s AI-powered analytics platform to make hyperspectral analysis accessible for everyone.
Data from Pixxel’s satellites will be critical in helping global organizations 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.
“At Pixxel, we believe that the future of our planet lies in our ability to monitor and protect its health precisely. 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. "We're 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.”
Pixxel’s hyperspectral satellites can capture images at hundreds of wavelengths in the electromagnetic spectrum and reveal key data about the health of the planet. 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.
As the need for better ESG data monitoring and measurement becomes critical, Pixxel’s capabilities will help organizations comply with national and global sustainability standards.
Pixxel has seen a landmark year of growth, launching three pathfinder missions into orbit and growing its customer base by 5x. Recently, the company announced a 5-year contract with the NRO Commercial Systems Program Office (CSPO) for the Strategic Commercial Enhancements for Commercial Hyperspectral Capabilities program.
Pixxel’s venture funding now totals $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.
About Pixxel
Pixxel is a space data company building a constellation of the world’s highest-resolution hyperspectral earth imaging satellites and the analytical tools to mine insights from the data. The constellation will aim to provide global coverage every 24 hours and help detect, monitor, and predict global phenomena across agriculture, mining, environment and energy use cases.
Co-founded by then-20-year-olds Awais Ahmed and Kshitij Khandelwal, the space tech startup aims to build a health monitor for the planet by 2024. Pixxel has worked with notable organisations such as the Indian Space Research Organization, NASA JPL, and SpaceX amongst other space stalwarts. The organisation is backed by Lightspeed, Radical Ventures, Relativity's Jordan Noone, Seraphim Capital, Ryan Johnson, Blume Ventures, Sparta LLC and Accenture among others. For more information visit www.pixxel.space or follow Pixxel on Twitter and LinkedIn.
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