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Saturday, April 20, 2024

Pixxel Secures USD 36 Mn In Series B Funding

The last year has been quite a remarkable journey for the Indian space technology startup Pixxel. The company, founded by BITS Pilani alumni Awais Ahmed and Kshitij Khandelwal, plans to build a constellation of cutting-edge earth imaging satellites that can offer high-resolution data to global organizations to monitor pollutants, water pollution, oil leakages, soil composition, forest biodiversity, crop health, and more. In March, the company had even bagged a contract from the United States National Reconnaissance Organization to supply technical hyperspectral imagery to it.

Pixel has now taken another big step in its journey to the top, as it has successfully secured USD 36 million in a Series B funding round. Tech giant Google leads this new investment, bringing the company’s total venture funding to USD 71 million. The funding also marks the first time Google invested in an Indian space startup.

The investment will help Pixxel to accelerate the development of its hyperspectral satellite constellation, a mission that aims to deliver actionable climate insights at a planetary scale. It will also further the development of its AI-powered analytics platform ‘Aurora,’ which aims to make hyperspectral analysis accessible for everyone. The company plans to launch six satellites next year and 18 by 2025.

With this round, the California-based and Bangalore-based startup will now have sufficient funds to hire additional staff members and work on multiple projects simultaneously. The new funding will allow the company to expand into the US market. Pixxel is hiring for engineering, business development, and partnerships roles.

Pixel was established in 2019 and focuses on developing and launching hyperspectral satellites to detect, monitor, and analyze global phenomena such as air and water pollution, oil spillage, land use, and other environmental issues. The company has already launched three Pathfinder satellites into orbit, and the latest funding will help it to accelerate its growth further. The company has over 200 employees and is working on several exciting projects.

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