Spacetech start-up Pixxel on Monday announced that it has raised $25 million in a Series A round led by Toronto-based Radical Ventures.
Jordan Noone, Seraphim Space Investment, Lightspeed Partners, Blume Ventures and Sparta LLC also participated in the round. The new funding will be used to produce what the start-up calls “the world’s highest resolution hyperspectral satellite constellation” faster and to offer industry AI-powered insights that discover, solve and predict climate issues at a fraction of traditional satellite costs.
Awais Ahmed, CEO, Pixxel, said, “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.”
This is the country’s largest fundraise by a spacetech company till date, Pixxel said.
Pixxel is launching its hyperspectral satellites as a part of SpaceX’s upcoming April Transporter-4 mission. These earth-imaging microsatellites have 50x higher resolution than existing multispectral counterparts and, unlike drone or land-based multispectral sensors, Pixxel will be able to capture data at global scale.
Traditional earth imaging collects data in the visible light spectrum, limiting end use cases. Hyperspectral imaging collects data across 40x more wavelengths and can be used for a myriad of applications in India such as monitoring methane emissions, quantifying carbon sequestration, and monitoring disease outbreaks across cropland.
Parasvil Patel of Radical Ventures said, “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 and we’re excited to support them on this journey.”