The Busy Brains
2 Jun 2023
Pixxel, a spacetech startup, secures $36 million in a Series B funding round led by Google. Discover how Pixxel plans to develop the world's first high-resolution hyperspectral satellite constellation and an AI-powered analytics platform, enabling actionable climate insights and revolutionizing ESG data monitoring.
Pixxel, the spacetech startup, has successfully raised $36 million in a Series B funding round, with technology giant Google leading the investment. Existing investors Radical Ventures, Lightspeed, Blume Ventures, growX, Sparta, and Athera also participated in this funding round.
The fresh capital will be primarily directed towards the development of a groundbreaking hyperspectral satellite constellation. This constellation aims to deliver actionable climate insights on a global scale by capturing high-resolution images at hundreds of wavelengths in the electromagnetic spectrum. Additionally, Pixxel will focus on advancing its AI-powered analytics platform called Aurora, making hyperspectral analysis accessible to a wider audience.
Pixxel's satellite data will play a crucial role in closely monitoring various environmental factors, including emissions, water pollution, gas leaks, oil spills, soil composition, forest biodiversity, and crop health. The startup's advanced capabilities will provide up to 10 times more information than current multispectral satellites and enhance spectral resolution by 50 times.
With plans to launch six satellites by 2024 and an additional 18 satellites by 2025, Pixxel aims to revolutionize the space industry. These advancements will support global organizations in meeting national and international sustainability standards, particularly in environmental, social, and governance (ESG) data monitoring and measurement.
“At Pixxel, we believe that the future of our planet lies in our ability to monitor and protect its health precisely. With this round of funding, we are even closer now to realizing our mission of building a health monitor for the planet and empowering people around the world to make informed decisions about our collective well-being," said Awais Ahmed, co-founder and CEO of Pixxel.
"We're incredibly grateful to our world-class investors for their unwavering support and belief in our vision and are excited to work together to create a meaningful positive impact on the future of our planet.”
Pixxel has experienced significant growth, launching three Pathfinder missions into orbit and expanding its customer base fivefold. The startup's latest achievement includes securing a 5-year contract with the NRO Commercial Systems Program Office (CSPO) for the Strategic Commercial Enhancements for Commercial Hyperspectral Capabilities program.
This successful Series B funding round brings Pixxel's total raised amount to $71 million. The investment from prominent players such as Google, Lightspeed, Radical Ventures, and others underscores the significance of Pixxel's innovative spacetech solutions in driving positive environmental impact and reshaping the future of satellite technology.