Pixxel Secures $24M in Series B Extension, Total Funding Reaches $95M

Pixxel, a US-India-based space technology company specializing in hyperspectral imaging satellites, has announced an additional $24 million raised in its Series B extension round. This brings the company's total Series B funding to $60 million and cumulative funding to $95 million across all rounds. The announcement was made in a press release issued by the company.

The Series B extension saw participation from new investors, including M&G Catalyst and Glade Brook Capital Partners, alongside existing backers such as Google, Radical Ventures, and Lightspeed. The funding will be allocated to expedite the development of Pixxel’s planned constellation of 18 commercial hyperspectral satellites and to enhance its software platform, Aurora, which provides data analysis and insights from hyperspectral imaging.

Pixxel plans to use the funds to scale its satellite manufacturing operations, expand its production capabilities, and support a range of services, including small satellite development and advanced imaging payloads. The company also aims to deploy its Fireflies constellation of six hyperspectral satellites by early 2025, offering 5-meter spatial resolution and daily revisit capability.

Hyperspectral imaging technology captures data across over 250 spectral bands, enabling applications in agriculture, climate monitoring, resource management, and urban planning. Pixxel's imaging systems are designed to support industries and governments in making data-driven decisions.

Awais Ahmed, CEO of Pixxel, commented that the funding would accelerate the deployment of the company’s satellite constellation. Representatives from M&G Catalyst and Glade Brook Capital Partners emphasized the potential of Pixxel’s technology to contribute to advancements in environmental monitoring and resource management.

Pixxel’s satellites are expected to deliver enhanced imaging capabilities, with a focus on sectors such as energy, mining, and environmental protection. The company’s latest investment underscores its commitment to expanding its role in the space technology sector.