Pixxel Wins $25M Series A Funding As Indian Space Startups Find Breakout Speed

Pixxel raises $25 million in India’s largest fundraising campaign by a space tech company to date. The funding round was led by Toronto-based Radical Ventures, with participation from Jordan Noone, Seraphim Space Investment, Lightspeed Partners, Blume Ventures, Sparta LLC and Inventus Capital India.

The new capital will allow Pixxel to accelerate production of its high-resolution hyperspectral satellite, which offers artificial intelligence-based insights to discover and predict climate issues at a fraction of the cost of traditional satellites.

Founded by Awais Ahmed and Kshitij Khandelwal in 2019, Pixxel works with space organizations such as Indian Space Research Organization (ISRO), NASA and SpaceX. In fact, the startup is launching the first of its hyperspectral satellites as part of SpaceX’s upcoming Transporter-4 mission in April.

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“We are committed to providing an essential tool in the fight against climate change, helping researchers and responders in the field to detect and develop effective strategies to combat imminent environmental threats,” said Awais Ahmed, co-founder and CEO of Pixxel.

“This funding will not only help us achieve this goal, but will also help us improve our software capabilities so that organizations of all sizes can access and understand this data,” he added.

In 2021, Indian space tech startups had a breakthrough year with nearly $70 million in funding, up from $22 million in 2020, according to Tracxn.

Pixxel is among the top-funded space startups along with Agnikul Cosmos, Skyroot Aerospace, Dhruva, Digantara, SatSure, Vesta Space and others attracting strong investor interest after the government opened up the space sector to private companies in mid-2020.

While each startup brings its own proposition to space technology with a range of applications, Pixxel’s strength lies in offering advanced tools for agriculture, oil, gas, mining and environmental agencies to analyze geospatial imagery of the Earth’s surface in real time via a simple API. . It monitors crop health, measures climate risks such as floods, famine or carbon emissions, and detects pipeline leaks.

For India, monitoring disaster response activities, agricultural productivity, natural resources and urbanization are key areas whose management can contribute to the conservation and sustainability of the planet, said the company in a press release.

(Edited by : Priyanka Deshpande)

First post: STI

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