Spacetech innovator Pixxel has closed an additional $24 million in funding as part of its Series B round, bringing its total funds raised across all rounds to an impressive $95 million. The new investment comes from M&G Catalyst and Glade Brook Capital Partners, adding to a roster of existing backers like Google, Radical Ventures, and Lightspeed.
Boosting Hyperspectral Satellite Capabilities
Founded by Awais Ahmed and Kshitij Khandelwal, Pixxel specializes in hyperspectral imagery satellites. These cutting-edge satellites capture hundreds of narrow spectral bands, delivering unparalleled insights into Earth’s surface. With a resolution of 5 meters, the technology allows for detailed “spectral fingerprinting” of the planet, uncovering nuances invisible to traditional imaging methods.
The new funding will expedite:
- Launch of 18 commercial satellites: These will form Pixxel’s operational hyperspectral constellation.
- Expansion of Aurora platform: This AI-powered Earth Observation platform converts hyperspectral data into actionable insights for industries worldwide.
In February, Pixxel demonstrated the power of its technology by releasing hyperspectral images from global locations, including India’s Krishna River Delta and Australia’s Super Pit.
Applications Across Industries
Pixxel’s hyperspectral technology is proving transformative for sectors such as:
- Agriculture: Monitoring crop health and optimizing yields.
- Climate Monitoring: Assessing environmental changes in real-time.
- Resource Management: Identifying and managing natural resources.
- Urban Planning: Supporting sustainable development and infrastructure.
Recently, Pixxel secured a significant supplier deal with NASA, marking the largest contract of its kind for an Indian company.
Financial Snapshot
Pixxel’s financial journey reflects its growth-focused approach. While it reported an operating revenue of ₹15.33 crore in FY23, losses stood at ₹10.17 crore. The FY24 financial report is anticipated to shed light on the impact of its expanding operations.
| Metric | Details |
|---|---|
| Founded | 2019 |
| Headquarters | Bengaluru & California |
| Total Funding | $95 Million |
| Number of Satellites | 18 (planned commercial launch) |
| Key Backers | Google, Radical Ventures, Lightspeed, etc. |
A Bright Future for Indian Spacetech
Pixxel’s rapid growth and technological achievements underscore India’s growing prominence in the global spacetech ecosystem. The company’s work not only contributes to space exploration but also supports industries on Earth with data-driven solutions for complex challenges.
This funding round positions Pixxel to further its mission of enabling organizations to make informed, sustainable decisions by offering unparalleled insights from space.
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