Google-backed Pixxel raises additional $24 million in Series B round

Google-backed space data firm and spacecraft manufacturer Pixxel on Monday announced securing USD 24 million in additional funding as part of its Series B round.

The latest funding round saw new investors, M&G Catalyst and Glade Brook Capital Partners, joining the existing backers, including Radical Ventures, Lightspeed, and others.

The funds will enable Pixxel to accelerate the development and launch of its entire constellation of 18 commercial hyperspectral satellites planned for the near future, Pixxel said.

Besides, it will also support the growth of the company's software offerings, including Aurora, its AI-driven Earth Observation platform, enabling seamless analysis and actionable insights for diverse applications from hyperspectral data, it stated.

This new investment brings the total Series B funding to USD 60 million, taking the total to USD 95 million across all funding rounds to date, Pixxel said.

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.

"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," said Awais Ahmed, Founder and CEO of Pixxel.

Additionally, the company said, 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.

Pixxel's hyperspectral satellites are designed to capture data across 250-plus spectral bands at an unparalleled 5-meter spatial resolution, spectrally fingerprinting the earth and delivering details invisible to conventional imaging methods.

The upcoming Fireflies constellation of six commercial-grade hyperspectral satellites, set for launch in early 2025, will provide enhanced global coverage with native 5-meter resolution, a 40-kilometre wide swath and daily revisit frequency anywhere on the planet. 

Pixxel said.With applications spanning agriculture, climate monitoring, resource management, mining, environmental protection, energy, urban planning, among others, Pixxel said its technology equips organisations with the critical intelligence required to make informed, data-driven decisions.