Spacetech startup Pixxel announced the closing of $24 million in additional funding as part of its Series B round from new investors M&G Catalyst and Glade Brook Capital Partners, who join existing backers, including Google, Radical Ventures, Lightspeed, and others.
The Bengaluru- and California-based startup had earlier raised $36 million in the first tranche of its Series B round in June last year. With this, Pixxel has raised a total of $95 million across all funding rounds to date.
The funds will help Pixxel accelerate the launch of its 18 commercial hyperspectral satellites and expand its AI-driven Earth Observation platform, Aurora, for analysis and actionable insights.
Founded by Awais Ahmed and Kshitij Khandelwal, Pixxel is developing hyperspectral imagery satellites, which capture a spectrum of light divided into hundreds of narrow spectral bands to better understand and discern anything on the planet.
According to Pixxel, its hyperspectral satellites are designed to capture data across more than 250 spectral bands at a 5-meter spatial resolution, spectrally fingerprinting the Earth and delivering details invisible to conventional imaging methods.
With applications spanning agriculture, climate monitoring, resource management, mining, environmental protection, energy, urban planning, and more, Pixxel’s technology equips organizations with the critical intelligence required to make informed, data-driven decisions.
In February this year, Pixxel unveiled the first set of hyperspectral images from its satellites, capturing intricate details of the land and water features of regions such as the Krishna River Delta (India), Palm Islands (Dubai), Super Pit (Australia), Saloum River Delta (Senegal), Granny Smith Gold Mine (Australia), and Brockman (Australia).
Recently, the company won the largest supplier deal by an Indian company from the National Aeronautics and Space Administration (NASA). According to TheKredible, Pixxel reported an operating revenue of Rs 15.33 crore and a loss of Rs 10.17 crore in FY23, while its annual report for FY24 is yet to be filed.
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