Bengaluru-based Pixxel secures $24m in Series B funding

• Pixxel is set to launch its first batch of six hyperspectral imaging satellites, known as Fireflies, early next year.
• Funding has attracted new investors, including M&G Catalyst and Glade Brook Capital Partners, who join existing backers such as Google, Radical Ventures, and Lightspeed.

Bengaluru-based space start-up Pixxel has announced a significant milestone, securing an additional $24 million in funding as part of its Series B round.

The latest infusion of capital elevates Pixxel’s total Series B funding to $60 million and its overall funding to $95 million, positioning it as one of the highest-funded space technology start-ups in India.

The funding will facilitate the rapid deployment of Pixxel’s unique hyperspectral satellite constellation, which aims to revolutionise the way humanity comprehends and addresses pressing global challenges.

Awais Ahmed, the founder and CEO of Pixxel, said that this capital will expedite the launch of more satellites, thereby enhancing the company’s capacity to provide critical data for various applications.

Pixxel is set to launch its first batch of six hyperspectral imaging satellites, known as Fireflies, which are designed to operate at an altitude of 550 kilometres with a native resolution of five meters and the capability to capture over 150 wavelengths of light.

Commercial hyperspectral satellites

These satellites have already been dispatched from Pixxel’s headquarters to the launch site, with deployment scheduled for early next year. The additional funding will support the acceleration of the development and launch of an entire constellation of 18 commercial hyperspectral satellites planned for the near future.

The Series B extension round has attracted new investors, including M&G Catalyst and Glade Brook Capital Partners, who join existing backers such as Google, Radical Ventures, and Lightspeed. This diverse investment base underscores the confidence in Pixxel’s innovative approach to satellite technology.

Boost manufacturing capacity

Moreover, the funds will bolster Pixxel’s software offerings, particularly its AI-driven Earth Observation platform, Aurora, which aims to provide seamless analysis and actionable insights derived from hyperspectral data. This technological advancement is expected to cater to a wide range of applications, enhancing decision-making processes across various sectors.

In addition to expanding its satellite constellation, Pixxel plans to increase its manufacturing capacity and scale its operations for upcoming missions.

The company also aims to enhance its capabilities in providing comprehensive satellite manufacturing services, ranging from small satellites to advanced imaging payloads for other organisations and governments.