Pixxel, an Earth-imaging technology startup, announced a $25 million Series A in what is India’s largest fundraise by a space technology company to date. The funding was led by Radical Ventures, a Toronto-based firm known for investing in entrepreneurs that use artificial intelligence to transform massive industries.
Additional participation in Pixxel’s Series A comes from Jordan Noone, Seraphim Space Investment, Lightspeed Partners, Blume Ventures, Sparta LLC and Inventus Capital India. The new funding will enable Pixxel to expedite production of the world’s highest resolution hyperspectral satellite constellation and to offer industry AI-powered insights that discover, solve, and predict climate issues at a fraction of traditional satellite costs.
Pixxel is launching the first of its hyperspectral satellites as a part of SpaceX’s upcoming April Transporter-4 mission. These earth-imaging microsatellites have 50x higher resolution than existing multispectral counterparts and unlike drone or land-based multispectral sensors, Pixxel will be able to capture data at global scale. Traditional earth imaging collects data in the visible light spectrum, limiting the end use cases. Hyperspectral imaging collects data across 40x more wavelengths and can be used for a myriad of applications in India such as monitoring methane emissions, quantifying carbon sequestration, and monitoring disease outbreaks across cropland.
“We’re thrilled to be joining Pixxel in their mission to build a health monitor for the planet,” said Parasvil Patel of Radical Ventures. “Pixxel’s satellites stand to be game-changers for the satellite imaging industry. Equipped with AI and machine learning technology built by an impressive team, Pixxel’s technology closely aligns with how we believe AI can change the world for good and we’re excited to support them on this journey.”
Pixxel’s platform unlocks a range of novel environment and sustainability use cases, offering advanced tools for agriculture, oil and gas, mining, and environmental agencies to analyze geospatial composites of the earth’s surface in real-time through a simple API. This level of precise detail will provide deep insights for the government to control and manage risk activities across several industries. For India, tracking disaster response activities, agricultural productivity, natural resources, urbanization are key areas whose management can contribute to planet conservation and larger stability of the country.
“Our investment in Pixxel reflects Seraphim’s increasing commitment and focus on companies that can provide the frequent and accurate data needed to create a sustainable future on earth. Pixxel sets itself apart with a novel imaging approach, making it able to retain a very high spatial and spectral resolution while using cost-effective satellites and compact satellites,” said Lewis Jones, Investment Manager at Seraphim Space. “Pixxel’s constellation will be vital for applications such as monitoring the health of crops, measuring climate risks such as floods and famine, and detecting pipeline leaks. Seraphim’s investment is set to fuel the company’s next stage of growth and we’re excited to be part of something so revolutionary.”
Pixxel also successfully retrieved its first hyperspectral satellite images recently from a camera that was launched last year with partners NanoAvionics and Dragonfly Aerospace. The photos capture the crop health of a Mexican farmland, showing previously indistinguishable soil nutrient content, early stress identifiers, water quality levels, and types of flora in the vegetation. The wealth of information in these images validate Pixxel’s revolutionary approach to spectroscopy for earth observation – detecting, monitoring, and analyzing phenomena beyond what’s possible with existing remote sensing solutions.
Source: Business-Standard