BENGALURU: IT firm Accenture has invested in space-tech start-up Pixxel, which is building the highest resolution hyperspectral imaging satellite constellation.
Pixxel's satellites can capture images at hundreds of wavelengths in the electromagnetic spectrum and reveal key data about the health of the planet that is invisible to other satellites, the company said.
It added that constellation of hyperspectral satellites will reshape how businesses across agriculture, defence, mining, environmental, and other critical industries make decisions on a global level to reduce their environmental impact.
The investment has been done through Accenture's start-up venture arm Accenture Ventures, and the terms of the deal were not disclosed.
"We continue to take great interest in start-ups within the burgeoning space industry, which some have forecasted will reach $1 trillion in revenue by the year 2040," said Tom Lounibos, managing director, Accenture Ventures.
Pixxel's first commercial phase satellites are scheduled to be launched in early 2023 along with the commercial sale of its data.
The learnings from the data beamed down by this constellation will provide a global scale perspective of planetary-scale ecosystems and biospheres that will be used to create an AI-informed analysis platform and a digital twin of the earth.
Accenture's investment in Pixxel follows a $25 million Series A funding round the company announced in March 2022 and the launch of their first satellite as part of SpaceX's April Transporter-4 payload.
"Our investment in Pixxel reflects our ongoing and active engagement with the promising start-up ecosystem in India and more such engagements are key for creating solutions that drive real world impact," said Mahesh Zurale, senior managing director, lead – Advanced Technology Centers in India, Accenture.