Bengaluru-based space start-up Pixxel on Monday announced it has raised $24 million in additional funding as part of the Series B round, which would allow them to deploy more spacecraft for its unique hyperspectral satellite constellation. With the latest round of funding, Pixxel has raised a total of $60 million in Series B funding and $95 million across all funding rounds, making it the highest-funded space-tech start-ups in the country.
"The new infusion of capital will help us launch more satellites quicker, transforming how humanity understands and acts on the challenges of our time," Awais Ahmed, founder and CEO Pixxel said in a statement.
Pixxel is preparing to launch six hyper-spectral imaging satellites -- Fireflies -- with five-metre native resolution from 550 km altitude and more than 150 wavelengths of light.
The first batch of six satellites have already been shipped from Pixxel's headquarters in Bengaluru to the launch site for deployment early next year.
The additional funds will enable the start-up to accelerate the development and launch of its entire constellation of 18 commercial hyperspectral satellites planned for the near future.
The Series B extension round added new investors, M&G Catalyst and Glade Brook Capital Partners, who join existing backers Google, Radical Ventures, Lightspeed, and others.
The funding 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.
Additionally, the funds will also 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 organisations and governments.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
