Sunday, May 22, 2022
HomeInsightFunding Alert Spacetech platform Pixxel raises $25mn in Series A round

[Funding alert] Spacetech platform Pixxel raises $25mn in Series A round

Spacetech platform Pixxel
Spacetech platform Pixxel

Spacetech platform Pixxel has raised $25 million in Series A funding round Radical Ventures, a Toronto-based firm known for investing in entrepreneurs who use artificial intelligence to transform massive industries.

Many investors including Jordan Noone, Seraphim Space Investment, Sparta LLC, Lightspeed Partners, Blume Ventures, and Inventus Capital India also participated in this round.

The startup plans to use the funds to accelerate the production of the world’s highest resolution hyperspectral satellite cluster and provide industry AI-powered insights exploring, solving and predicting climate issues at a fraction of the traditional satellite cost.

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.

Awais Ahmed, CEO at Pixxel, said, “We’re committed to providing a critical tool in the fight against climate change, helping researchers and on-the-ground responders detect and develop effective strategies to combat imminent environmental threats. This funding will not only assist us with this goal but will help us improve our software capabilities so that organizations of all sizes can access and understand this data.”

It is launching its first hyperspectral satellites as a part of Elon Musk-led SpaceX’s upcoming April Transporter-4 mission, the company said in a statement. These Earth-imaging microsatellites have 50x higher resolution than existing multispectral counterparts.

“Equipped with AI and machine learning technology built by an impressive team, Pixxel’s technology closely aligns with how we believe AI can change the world for good and we’re excited to support them on this journey,” said Parasvil Patel, partner Radical Ventures.

Last year in March, the startup raised $7.3 million (₹52.8 crores) in a seed funding round from Techstars, Omnivore VC, and others.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -
Newsletter

Subscribe to our weekly newsletter and don't forget to check out the latest updates.