BENGALURU: US-India-based space technology company Pixxel has closed $24 million in additional funding as part of its Series B round. This new investment brings the total Series B funding to $60 million. With this, Pixxel, which is backed by Google, Lightspeed, Radical Ventures, Accenture, and others, has raised a total of $95 million across all funding rounds to date.
M&G Catalyst and Glade Brook Capital Partners joined as new investors in the Series B extension round. Also, with this new funding, Pixxel has become one of the highest-funded space-tech start-ups in the country and the highest-funded hyperspectral imaging company globally.
The funds will enable Pixxel to accelerate the development and launch of its entire constellation of 18 commercial hyperspectral satellites planned for the near future. The funds will drive Pixxel’s plans to expand its satellite manufacturing capacity, scale its operations for upcoming missions, and enhance its capability to provide a full spectrum of satellite manufacturing services—from small satellites to advanced imaging payloads for other organisations and governments, the company said on Monday.
“The new infusion of capital will help us launch more satellites quicker, transforming how humanity understands and acts on the challenges of our time,” said Awais Ahmed, Founder and CEO of Pixxel.