Bangalore, India based start-up Pixxel has secured USD 7.3 million funds on 17th of March in seed funding round led by Techstars and Omnivore VC.
Investors: The acquisition of USD 7.3 million funds took place in the seed funding round led by Techstars and Omnivore VC along with the involvement of previous investors like Blume Ventures, Inventus Capital and Lightspeed India Partners.
What the funding is for: The fresh funding would be utilized for expanding the company’s global reach and also to focus on the development of the structure base model. According to the sources, the company is also aiming to provide the imaging at the highest resolution commercially available, via a small satellite constellation that will provide 24- hour global coverage.
Founders of the company: Awais Ahmed and Kshitij Khandelwal
Founded Date: February 2019
About the company: Pixxel is a privately held Indian organization which operates under the space industry. The organization was established in 2019 and they are known for building a constellation of advanced earth imaging small satellites. They also deal with various specialties like remote censoring, nanosatellites, artificial intelligence and image processing energy. The company has a work strength of around 11-50 employees.
What the CEO has to say: “We started with analyzing existing satellite images and what we could do with this immediately. We realized that in most cases it was not even able to see certain problems or issues that we wanted to solve for example- we wanted to look at air pollution and water pollution levels. But to be able to do that there were no commercial satellites that would enable us to do that, or even open-source satellite data at the resolution that would enable us to do that. The potential of hyperspectral image on earth across a range of specters is huge.”
“We started looking at the space sector as an area for us to be able to work in and we realized that what we wanted to do was to be able to enable people to take resources from space to use in space. That included asteroid mining for example and when we investigated that we found hyperspectral imaging was the imaging tech that would enable us to map these asteroids as to whether they contain these metals or minerals. So that the knowledge sort of transferred to this more short-term platform that we were looking at solving.” — Said Awais Ahmed, Co-founder of Pixxel.
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