Global Courant
Scout satellite. (Reference image by the European Space Agency, Facebook).
Bengaluru-based satellite Pixxel raised $36 million in a Series B round of funding, which will be led by Google and will become India’s first major investment in the space sector since the government launched its privatization policy in April.
Pixxel announced its Series B round on June 1, 2023, involving both Google and existing investors Radical Ventures, Lightspeed, Blume Ventures, growx, Sparta and Athera.
The company has now raised $71 million. Pixxel has not disclosed the round’s rating.
According to Reuters, Pixxel is building a constellation of satellites that can identify mineral deposits or crop productivity by analyzing the spectral signature of an image.
The company, which has offices in India and the United States, launched its first Pathfinder satellites in 2022 and plans a constellation of 24 satellites to deploy in 2025.
Awais Ahmed, CEO and co-founder of Pixxel said in a statement: “With this round of funding, we are now even closer to realizing our mission to build a health monitor for the planet and empower people around the world to make informed decisions. about our collective well-being.”
The funding will go to Aurora, an analytics platform the company says will use artificial intelligence technologies to produce useful information products for customers, as well as constellation development.
According to SpaceNews, Pixxel is one of six companies that signed an agreement in March with the National Reconnaissance Office for the agency’s Strategic Commercial Enhancements program for hyperspectral imaging.
An industry source said the funding came through the Google for India Digitalization Fund. Established in 2020, the fund has earmarked approximately $10 billion to invest in Indian companies, including those building new products and services relevant to Indian needs, supporting digital transformation efforts, and leveraging technology and artificial intelligence for health, education and agriculture.
