Space technology company Pixxel on Monday announced the raising of $24 million in additional funding as part of its Series B round.
This new investment brings the total Series B funding to $60 Million. With this, Pixxel has raised a total of $95 Million across all funding rounds to date, the company said.
Pixxel is building the world’s highest-resolution hyperspectral satellite constellation. Its hyperspectral satellites are designed to capture data across 250+ spectral bands at an unparalleled 5-metre spatial resolution, spectrally fingerprinting the earth and delivering details invisible to conventional imaging methods.
The Series B extension round added new investors, M&G Catalyst and Glade Brook Capital Partners, who have joined existing backers Google, Radical Ventures, Lightspeed, and others.
“This funding positions Pixxel as one of the highest-funded space-tech startups in India and the highest-funded hyperspectral imaging company globally, reinforcing its mission to build a health monitor for the planet through advanced earth observation satellites and drive impactful climate action,” the company said.
Awais Ahmed, founder and CEO of Pixxel, said, “This funding echoes the investors’ confidence in Pixxel’s technological capabilities. The new infusion of capital will help us launch more satellites quicker, transforming how humanity understands and acts on the challenges of our time.”
The funds will accelerate the development and launch of Pixxel’s entire constellation of 18 commercial hyperspectral satellites planned for the near future. It will also support the growth of Pixxel’s software offerings, including Aurora, its AI-driven Earth Observation platform, enabling seamless analysis and actionable insights for diverse applications from hyperspectral data.
Additionally, the funds will drive Pixxel’s plans to expand its satellite manufacturing capacity, scale its operations for upcoming missions, and enhance its capability to provide a full spectrum of satellite manufacturing services—from small satellites to advanced imaging payloads for other organisations and governments.
source/content: thehindu.com (headline edited)