Thursday, September 29, 2022
HomeInsightFunding Alert Spacetech platform Pixxel raises funding

[Funding alert] Spacetech platform Pixxel raises funding

Spacetech platform Pixxel has raised an undisclosed amount in funding from IT consulting firm Accenture Ventures.

Spacetech platform Pixxel has raised an undisclosed amount in funding from IT consulting firm Accenture Ventures.

With this investment, Pixxel also joins Accenture Ventures’ Project Spotlight, an engagement and investment programme focused on companies creating or implementing disruptive enterprise technologies.

Los Angeles and Bengaluru-based startup was founded in 2019 by Awais Ahmed and Kshitij Khandelwal, Pixxel is a space technology company working towards making the world the highest resolution hyperspectral imaging satellite-imaging constellation.

Read also – [Funding alert] Fintech Startup EarlySalary raises $110 mn in series D round

Its first commercial-stage satellites are scheduled for launch in early 2023 with the commercial sale of its data.

With the launch of even more satellites in late 2023, the company aims to achieve daily global coverage by early 2024.

Pixxel CEO and co-founder Awais Ahmed said, “Accenture’s global reach and support will help accelerate our ambitious mission to create a health monitor for the earth and leverage our technology to address some of the most pressing issues facing our planet.”

According to Accenture, with six satellites flung into a Sun-synchronous orbit around an altitude of 550 kilometers, Pixxel’s hyperspectral constellation will be able to cover any point on the globe every 48 hours.

“With so many aspects of our daily lives being increasingly impacted by climate and sustainability issues, we believe Pixxel’s Earth Health Monitoring can play a crucial role by enabling global organisations to detect potentially damaging events early on and help prevent them,” said Mahesh Zurale, senior managing director, lead – advanced technology centres in India, Accenture.

In march 2022, Pixxel had raised $25 million in Series A funding round from Radical Ventures, and other angle investors.

Read also – [Funding alert] Human Edge raises $1.5 mn led by Bharat Innovation Fund

About Pixxel

Pixxel is a space data company, building a constellation of hyperspectral earth imaging satellites and the analytical tools to mine insights from that data. The constellation is designed to provide global coverage every 24 hours, with the aim of detecting, monitoring and predicting global phenomena.

From realising India’s first Hyperloop pod, to building some of the world’s most advanced satellites and missiles, to building landers and rovers for the moon, the team at Pixxel has constantly strived to push the boundaries of human exploration.

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