Pixxel, a space technology company based in the U.S. and India, which is developing the world’s highest-resolution hyperspectral satellite constellation, announced on Dec. 16, that it has secured an additional $24 million in funding as part of its Series B round. This brings its total funding across all rounds to $95 million.
The Series B extension round added new investors, M&G Catalyst and Glade Brook Capital Partners, who join 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.
Pixxel is an innovative space-tech startup focused on providing high-resolution Earth observation data using a constellation of small satellites. The company leverages satellite imaging technology to offer advanced solutions for industries such as agriculture, forestry, mining, infrastructure, climate change monitoring, and disaster management.
READ: Formula Insight unveils new platform to simplify equity research (December 6, 2024)
The funds will enable Pixxel to accelerate the development and launch of Pixxel’s entire constellation of 18 commercial hyperspectral satellites, the company said in a statement. 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.
Founder and CEO of Pixxel, Awais Ahmed, said, “This funding reflects the bold vision we’ve set out to achieve at Pixxel and 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.”
Additionally, the funds will help Pixxel significantly in ramping up its satellite manufacturing capacity, scale operations for future missions, and bolster its ability to provide a full spectrum of satellite manufacturing services — spanning small satellites to advanced imaging payloads for governments and enterprises.
“We look forward to building a business that continues to make a meaningful impact for generations, creating a world where industries and govts can act faster and smarter for the greater good through Pixxel’s cutting-edge hyperspectral satellites,” Ahmed added.
READ: Indira Gunda Saladi elected to Illinois Institute of Technology board (December 17, 2024)
According to the company, Pixxel’s hyperspectral satellites are engineered to capture data across over 250+ spectral bands with an unmatched five-meter spatial resolution, providing a spectral fingerprint of the Earth and revealing details that traditional imaging methods cannot detect.
With its growing satellite constellation and innovative capabilities, the company is poised to enhance industries such as climate monitoring, disaster management, and precision agriculture. Pixxel’s commitment to delivering detailed, real-time data and expanding its satellite manufacturing capacity positions it as a key player in the space technology sector.
As it scales, Pixxel should continue to shape the future of Earth observation, reinforcing its mission to build a health monitor for the planet through advanced earth observation satellites and drive impactful climate action.