Los Angeles and Bangalore, India-based startup Pixxel raised USD 25 million in a Series A round of funding on March 28, 2022. Pixxel is a space tech startup that provides Earth imaging technology. Toronto-based Radical Ventures led the Series A funding.
Besides, Embedded Ventures’ cofounder Jordan Noone, Seraphim Space Investment, Lightspeed Partners, Blume Ventures, Sparta LLC and Inventus Capital India participated in the funding.
Utilization of Funds for Pixxel
With the latest funding, Pixxel will expedite its production of the world’s highest resolution hyperspectral satellite constellation. Besides, they will offer industry AI-powered insights that discover, solve, and predict climate issues at a fraction of traditional satellite costs.
Previously, in March 2021, the company closed its seed round at USD 7.3 million, with participation from Lightspeed Ventures, Blume Ventures, growX, Omnivore, Techstars and others.
What the founder of Pixxel has to say
“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 will help us improve our software capabilities so that organizations of all sizes can access and understand this data,” said Awais Ahmed, CEO at Pixxel.
What the investors have to say
“We’re thrilled to be joining Pixxel in their mission to build a health monitor for the planet. Pixxel’s satellites stand to be game-changers for the satellite imaging industry. 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. We’re excited to support them on this journey,” said Parasvil Patel of Radical Ventures.
“Our investment in Pixxel reflects Seraphim’s increasing commitment and focus on companies that can provide the frequent as well as accurate data needed to create a sustainable future on earth. Pixxel sets itself apart with a novel imaging approach, making it able to retain a very high spatial and spectral resolution while using cost-effective satellites and compact satellites. 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, and we’re excited to be part of something so revolutionary,” said Lewis Jones, Investment Manager, Seraphim Space.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
