Pixxel Raises $25 million to Expedite Production of its Hyperspectral Satellite
Mar 30, 2022 | Mallika Rangaiah
About The Company
Founded by Awais Ahmed and Kshitij Khandelwal, Pixxel is a space technology platform, set on creating the highest resolution hyperspectral imaging satellite-imaging constellation in the world.
Conducting Hyperspectral imagery from space allows one to discover in an individual image, the spectral signatures of a whole region. While various agencies like NASA have been performing it for the purpose of planetary observation, Pixxel’s platform is focused on adding onto its work and introducing a constellation of satellites that will offer hyperspectral coverage when required.
The images that the platform's satellite collects are focused on offering latest information pertaining to areas like disaster responses, urbanization, climate monitoring and crop yield prediction.
There are a range of applications associated with Hyperspectral imaging, which include remote sensing, biotechnology as well as assessing methane emissions.
Pixxel has partnered with many space organizations which include Indian Space Research Organization (ISRO), NASA and SpaceX.
The Raise
On 28th March, 2022, Monday, Pixxel announced that it has raised $25 million in a new funding round which was led by Toronto-based Radical Ventures and also included participation from Jordan Noone, Seraphim Space Investment, Lightspeed Partners, Inventus Capital India, Blume Ventures, and Sparta LLC.
The platform has affirmed that this funding would play a role in hastening the creation of their hyperspectral satellite constellation and in providing new and fresh AI powered insights.
As reported by CNBC TV18, the Co-Founder and CEO of Pixxel, Awais Ahmed, has stated that the platform is “committed” towards offering a lucrative tool in the battle against climate change and aid researchers and responders in noting and creating useful strategies to defy any looming environmental dangers.
He also added that alongside this goal, the funding will aid the platform in enhancing its software capacities so that all organizations are able to access and comprehend this data.
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