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Earth-imaging company Pixxel has raised $5 million in seed funding, led by venture capital firms Blume Ventures, growX ventures and Lightspeed India.
The round also included contributions from Inventus Capital India, and angel investors including Stanford Angels and Ryan Johnson, a veteran in the earth imaging space, the company said in a statement.
The company will use the funding to expand the team, strengthen the technology and accelerate progress towards the deployment of its constellation.
“The time for space tech is now, driven by many tailwinds - the proliferation of microsatellites, reduced launch costs and the need for more real-time deep intelligence on our planet,” Sanjay Nath, Managing Partner at Blume Ventures said.
Following the fundraising, Ryan Johnson, founder and former CEO at Blackbridge, a Canadian earth-imaging company, and ex-president at satellite imaging company Planet Labs will join the company’s board.
Pixxel had earlier raised $700,000 in pre-seed funding from Techstars and growX ventures and others in June 2019, bringing its total funding to date to $5.7 million.
Pixxel is building a constellation of earth-imaging small satellites that will provide global coverage every 24 hours for tackling some of the world’s most pressing problems. The company was founded in February 2019 by Awais Ahmed and Kshitij Khandelwal, who were doing their final year of undergraduate studies at BITS Pilani.
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