Accenture Invests in Hyperspectral Satellite Company Pixxel to Monitor Earth’s Health

Rhea-AI Summary

Accenture (NYSE: ACN) has strategically invested in Pixxel, a startup specializing in advanced earth imaging technology, through Accenture Ventures. Pixxel aims to build the world's highest resolution hyperspectral imaging satellite constellation, which will enhance decision-making across industries like agriculture and defense while addressing climate issues. The investment aligns with Accenture's interest in the space industry, projected to reach $1 trillion by 2040. Pixxel's ongoing developments include launching its first commercial satellites in early 2023, offering unprecedented data resolution and coverage.

Positive

• Accenture's investment aligns with the growing space industry, projected to reach $1 trillion by 2040.
• Pixxel's satellites offer 8x more information and 50x better resolution than current options, enhancing data quality for various industries.
• More than 50 pre-launch agreements signed with customers in agriculture, oil and gas, and climate sectors indicate strong market interest.
• The investment supports Accenture's ongoing engagement with India's startup ecosystem, fostering innovation.

Negative

• Terms of the investment were not disclosed, leaving uncertainty about financial implications.

NEW YORK & BANGALORE, India--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Pixxel, a leader in cutting-edge earth imaging technology. Based in Bangalore with a presence in Los Angeles, Pixxel is building the world’s highest resolution hyperspectral imaging satellite constellation in order to offer industry AI-powered insights that discover, solve, and predict climate issues at a fraction of the cost of traditional satellites.

Accenture has made a strategic investment, through Accenture Ventures, in Pixxel, a leader in cutting-edge earth imaging technology. (Graphic: Business Wire)

Pixxel’s satellites can capture images at hundreds of wavelengths in the electromagnetic spectrum and reveal key data about the health of our planet that is invisible to other satellites. The company’s planned constellation of hyperspectral satellites will reshape how businesses across agriculture, defense, mining, environmental, and other critical industries make decisions on a global level to reduce their environmental impact. The data from Pixxel’s satellites provides 8x more information and 50x better resolution than existing in-market options.

“We continue to take great interest in startups within the burgeoning space industry, which some have forecasted will reach $1 trillion in revenue by the year 2040^[1], and Pixxel is a particularly exciting company sitting at the intersection of space technology and sustainability,” said Tom Lounibos, managing director, Accenture Ventures. “Imagine being able to predict a famine before a crop infestation takes over or stop an oil spill before it endangers delicate oceanic biospheres. Pixxel’s hyperspectral imaging technology has the potential to do just that, and in doing so, could help scientists address some of the world’s most pressing challenges to our Earth.”

Pixxel’s first commercial phase satellites are scheduled to be launched in early 2023 along with the commercial sale of its data. With six satellites flown in a sun-synchronous orbit (SSO) around a 550 km altitude, Pixxel’s hyperspectral constellation will be able to cover any point on the globe every 48 hours. With even more satellites scheduled to launch in late 2023, Pixxel will achieve daily global coverage by early 2024. 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.

“Our investment in Pixxel reflects our ongoing and active engagement with the promising startup 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. “With so many aspects of our daily lives being increasingly impacted by climate and sustainability issues, we believe Pixxel’s Earth Health Monitoring can play a crucial role by enabling global organizations to detect potentially damaging events early on and help prevent them.”

Pixxel is the latest company to join Accenture Ventures’ Project Spotlight, an engagement and investment program focused on investing in companies that create or apply disruptive enterprise technologies. In addition to funding, Project Spotlight connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps, and offers extensive access to Accenture’s domain expertise and enterprise clients, helping startups harness human creativity and deliver on the promise of their technology.

“We’re excited to join Accenture’s Project Spotlight and collaborate with Accenture’s innovation labs, business and industry experts, and powerful clients and ecosystem partners across aerospace, science, technology and sustainability,” said Pixxel CEO and co-founder Awais Ahmed. “Accenture’s global reach and support will help accelerate our ambitious mission to create a health monitor for the Earth and leverage our technology to address some of the most pressing issues facing our planet.”

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. To date, more than 50 customers have signed pre-launch agreements with Pixxel from industries spanning agriculture, oil and gas, mining, and climate sectors.

Terms of the investment were not disclosed.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 710,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.

About Pixxel

Pixxel is building a health monitor for the planet by building and launching the world’s highest resolution hyperspectral imaging satellites. Co-founded by then 20 year olds Awais Ahmed and Kshitij Khandelwal in 2019, Pixxel has worked with notable organizations such as the Indian Space Research Organization, NASA JPL, and SpaceX among space stalwarts. Pixxel is backed by Lightspeed, Radical Ventures, Relativity's Jordan Noone, Seraphim Capital, Ryan Johnson, Blume Ventures, Sparta LLC, growX ventures, Inventus Capital, and Omnivore VC among others. For more information visit www.pixxel.space or follow Pixxel on Twitter and LinkedIn.

Copyright © 2022 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220829005694/en/

Christian Harper

Accenture

+1 917 452 4417

christian.harper@accenture.com



John O'Brien

Pixxel

Pixxel@strangebrewstrategies.com

Source: Accenture

FAQ

What is Accenture's recent investment in Pixxel about?

Accenture has made a strategic investment in Pixxel, which specializes in advanced earth imaging technology through Accenture Ventures.

How does Pixxel's technology compare to existing options?

Pixxel's satellites provide 8x more information and 50x better resolution than current market options.

When are Pixxel's satellites expected to be launched?

Pixxel's first commercial phase satellites are scheduled for launch in early 2023.

What industries could benefit from Pixxel's technology?

Industries such as agriculture, defense, mining, and environmental sectors could benefit from Pixxel's hyperspectral imaging technology.

What is the significance of Accenture's investment in the context of the space industry?

The investment aligns with projections that the space industry could reach $1 trillion in revenue by 2040.