Spacetech startup Pixxel secured $7.3M in seed funding round

Pixxel, a Bangalore-based spacetech startup has now secured $7.3 million in a seed funding round from the Techstars and Omnivore.

The round also saw participation from the existing investors, which includes the Blume Ventures, Lightspeed Ventures, Ryan Johnson and GrowX.

This is the follow-up Pixxel $5 million seed funding round which was secured in the month of August 2020.

The startup as of now, has plans to build the world’s highest resolution hyperspectral satellite constellation, to be launched within the next few months.

“Our new funding enables us to build a health monitor for the planet through the world’s most advanced hyperspectral small satellites. Our hyperspectral satellites will allow society to tackle many of humanity’s most pressing issues, and we believe, they will become the holy grail of remote sensing — providing the best combination of spatial, temporal, and spectral resolutions to date, empowering humans to see the earth like never before,” Awais said in a statement.

“The funding will also enable Pixxel to continue to rapidly scale its operations to meet the growing demand for high-quality remote sensing data through hyperspectral imaging,” the startup noted.

“This allows Pixxel to capture exact chemical signatures and offer much more accurate solutions to seemingly unsolvable issues in agriculture, energy, and environmental conservation. Once deployed, Pixxel’s constellation will provide 24-hour global coverage in higher quality resolution and lower cost than any existing satellite competitors,” it had said.

“Predictive insights from Pixxel’s satellite imagery will augment agricultural productivity and make farming more remunerative for farmers. We are excited to partner with the Pixxel team on this journey,” Mark said in a statement.

Also Read: Prescinto secured $3.5 M in seed funding round

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