Capital will help us launch more satellites quicker, says Ahmed
New investors M&G Catalyst and Glade Brook Capital Partners joined existing backers Google, Radical Ventures and Lightspeed among others in Pixxel’s latest US$24 million fund raise which will accelerate the development and launch of the US-India space company entire constellation of 18 commercial hyperspectral satellites planned for the near future.
The US$24 million in additional funding is part of its Series B round, raising the total Series B funding to US$60 million. With this, Pixxel has raised a total of US$95 million across all funding rounds to date https://www.nseindia.com/.
This funding positions Pixxel as one of the highest-funded space-tech startups in India and the highest-funded hyperspectral imaging company globally, reinforcing its mission to build a health monitor for the planet through advanced earth observation satellites and drive impactful climate action https://www.bseindia.com/.
The funds will also support the growth of Pixxel’s software offerings, including Aurora, its AI-driven Earth Observation platform, enabling seamless analysis and actionable insights for diverse applications from hyperspectral data https://sbi.com.in/.
Additionally, the funds will drive Pixxel’s plans to expand its satellite manufacturing capacity, scale its operations for upcoming missions, and enhance its capability to provide a full spectrum of satellite manufacturing services—from small satellites to advanced imaging payloads for other organizations and governments.
“This funding reflects the bold vision we’ve set out to achieve at Pixxel and echoes the investors’ confidence in Pixxel’s technological capabilities,” said Awais Ahmed, Founder and CEO of Pixxel https://www.startupindia.gov.in/.
“The new infusion of capital will help us launch more satellites quicker, transforming how humanity understands and acts on the challenges of our time,” he said on 9 Dec.
“We look forward to building a business that continues to make a meaningful impact for generations, creating a world where industries and governments can act faster and smarter for the greater good through Pixxel’s cutting-edge hyperspectral satellites.”
Praveg Patil, Head of Asia Pacific – M&G Impact & Private Equity, said, “Pixxel’s proprietary technology will be transformational and adaptable to monitor for enhancing crop health, climate change, managing resources more effectively and protecting our environment.
“This partnership underscores our commitment to support Pixxel’s growth plans and reflects our broader purpose-led strategy, demonstrating how innovative technology can generate positive environmental outcomes.”
Linda Guo, Partner, Glade Brook Capital Partners, commented, “We are thrilled to partner with Pixxel as they advance the deployment of their hyperspectral satellite constellation. Awais, Kshitij, and the Pixxel team have demonstrated exceptional vision, innovation, and execution, and we are confident they will play a pivotal role in driving the growth and adoption of the hyperspectral satellite market.”
Pixxel’s hyperspectral satellites are designed to capture data across 250+ spectral bands at an unparalleled 5-meter spatial resolution, spectrally fingerprinting the earth and delivering details invisible to conventional imaging methods.
The upcoming Fireflies constellation of 6 commercial-grade hyperspectral satellites, set for launch in early 2025, will provide enhanced global coverage with native 5-meter resolution, a 40-km wide swath and daily revisit frequency anywhere on the planet. With applications spanning agriculture, climate monitoring, resource management, mining, environmental protection, energy, urban planning, and more, Pixxel’s technology equips organizations with the critical intelligence required to make informed, data-driven decisions.
This milestone represents another step forward in Pixxel’s vision of leveraging space technology to drive global progress, create impactful environmental solutions, and facilitate interplanetary travel, paving the way for a better tomorrow on Earth and beyond.
LSE-listed M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager.
The Catalyst investment strategy sits within the Private Markets business at M&G. Drawing on this expertise and track record in private assets, Catalyst is a global, flexible strategy investing in companies with innovative solutions to some of the world’s biggest environmental and social challenges.
Glade Brook Capital Partners is a leading global growth equity firm investing in emerging leaders in software, internet, and deep technology. Glade Brook has partnered with transformative growth-stage companies, including SpaceX, xAI, Pixxel Space Technologies, Stoke Space Technologies, Stripe, Revolut, Airbnb, Uber, Zomato, and Zepto, among others.
Pixxel is a space data company and a spacecraft manufacturer redefining Earth observation with hyperspectral imaging. Pixxel’s constellation of the world’s highest-resolution hyperspectral imaging satellites is designed for daily revisit frequency anywhere on Earth. It helps detect, monitor, and predict critical global phenomena across agriculture, oil and gas, mining, environment, and other sectors in up to 50x richer detail. Pixxel has also launched its in-house Earth Observation Studio, Aurora, to make satellite imagery analysis easily accessible. Fiinews.com
