Pixxel – a leader in cutting-edge hyperspectral earth-imaging technology – announced $36 million in a Series B funding round of funding with participation from new investors such as Google along with existing investors Radical Ventures, Lightspeed, Blume Ventures, growx, Sparta, and Athera.
The new funding round will be used to advance Pixxel’s mission to build the world’s first and highest-resolution hyperspectral satellite constellation, delivering actionable climate insights on a planetary scale. And it will also be used to help further the development of Aurora: Pixxel’s AI-powered analytics platform to make hyperspectral analysis accessible for everyone.
The data from Pixxel’s satellites will be critical in helping global organizations closely monitor emissions, water pollution, gas leaks, oil spills, soil composition, forest biodiversity and crop health in unprecedented detail and at faster speeds. Plus the new funding round will bolster Pixxel’s plans to launch 6 satellites in 2024 and 18 other satellites by 2025.
Pixxel’s hyperspectral satellites are able to capture images at hundreds of wavelengths in the electromagnetic spectrum and reveal key data about the health of the planet. And the hyperspectral constellation and advanced data analytics platform will provide up to 10 times more information compared to multispectral satellites in space and increase the spectral resolution available by 50 times.
The need for better ESG data monitoring and measurement becomes critical and Pixxel’s capabilities will help organizations comply with national and global sustainability standards.
The company has seen a record year of growth, launching 3 pathfinder missions into orbit and growing its customer base by 5 times. And recently, the company announced a 5-year contract with the NRO Commercial Systems Program Office (CSPO) for the Strategic Commercial Enhancements for Commercial Hyperspectral Capabilities program.
Pixxel’s venture funding now totals million and new investors join existing backers like Lightspeed, Radical Ventures, Accenture Ventures, Relativity’s Jordan Noone, Seraphim Capital, Ryan Johnson, Blume Ventures, Sparta LLC, growx Ventures, Athera Venture Partners, Omnivore VC, etc.
KEY QUOTE:
“At Pixxel, we believe that the future of our planet lies in our ability to monitor and protect its health precisely. With this round of funding, we are even closer now to realizing our mission of building a health monitor for the planet, and empowering people around the world to make informed decisions about our collective well-being. We’re incredibly grateful to our world-class investors for their unwavering support and belief in our vision and are excited to work together to create a meaningful positive impact on the future of our planet.”
– Awais Ahmed, co-founder and CEO of Pixxel
