Other investors in the round included Embedded Ventures’ cofounder Jordan Noone, Seraphim Space Investment, Lightspeed Partners, Blume Ventures, Sparta LLC and Inventus Capital India.
The company said the new funding would help it expedite the production of its hyperspectral satellite constellation and offer newer artificial intelligence (AI)-powered insights.
Founded by Awais Ahmed and Kshitij Khandelwal in 2019, Pixxel is a hyperspectral imaging startup. Hyperspectral imaging is a technology that can analyse a wide spectrum of light in an image, instead of just assigning primary colours (red, green, blue) to each pixel. This leads to better data and insights from images of Earth from space. Hyperspectral imaging has a number of applications, such as monitoring methane emissions and disease outbreaks across farmland.
“We’re committed to providing a critical tool in the fight against climate change, helping researchers and on-the-ground responders detect and develop effective strategies to combat imminent environmental threats. This funding will not only assist us with this goal but help us improve our software capabilities so that organisations of all sizes can access and understand this data,” said Ahmed, Pixxel’s cofounder and chief executive.
The company is launching hyperspectral satellites as a part of Elon Musk-led SpaceX’s upcoming Transporter-4 mission in April. These earth-imaging microsatellites will have higher resolution than existing ones, the company said.
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“Equipped with AI and machine learning technology built by an impressive team, Pixxel’s technology closely aligns with how we believe AI can change the world for good and we’re excited to support them on this journey,” said Parasvil Patel, partner Radical Ventures.
In March 2021, the company closed its seed round worth $7.3 million, which saw participation from Lightspeed Ventures, Blume Ventures, growX, Omnivore, Techstars and others.
“Pixxel’s constellation will be vital for applications such as monitoring the health of crops, measuring climate risks such as floods and famine, and detecting pipeline leaks. Seraphim’s investment is set to fuel the company’s next stage of growth,” said Lewis Jones, investment manager at Seraphim Space.
