Pixxel Announces $25M Investment Led By Radical Ventures To Advance The World’s Most Detailed Imaging Satellites for Earth Health Monitoring

Rhea-AI Summary

Pixxel, a leader in hyperspectral remote sensing, has successfully closed a $25 million Series A funding round led by Radical Ventures. The funding will accelerate the production of Pixxel's hyperspectral satellite constellation, which aims to provide AI-powered insights to tackle climate issues. The first satellite is set to launch on SpaceX's Transporter-4 mission in April. Pixxel's innovative technology boasts 50x higher resolution than existing sensors and can analyze the Earth's surface in real-time across numerous applications, including agriculture and environmental monitoring.

Positive

• Secured $25 million in Series A funding to enhance satellite production.
• Launching first satellite during SpaceX's upcoming Transporter-4 mission in April.
• 50x higher resolution hyperspectral satellites compared to traditional sensors.
• Offers AI-powered insights for climate issues at lower costs than traditional methods.

Negative

• None.

Leader in Hyperspectral Remote Sensing Reaches Groundbreaking Milestone with Satellite Demonstration Ahead of SpaceX Transporter-4 Launch

PALO ALTO, Calif. & BANGALORE, India--(BUSINESS WIRE)-- Pixxel, a leader in cutting-edge earth-imaging technology, announced a $25 million Series A 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 Trust Plc, Lightspeed Partners, Blume Ventures, and Sparta LLC. The new funding enables 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.

Traditional satellite images collect 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 such as monitoring methane emissions, quantifying carbon sequestration, and monitoring disease outbreaks across cropland. (Photo: Business Wire)

“We’re excited to welcome these new investors as we work to address one of the most pressing issues facing our planet,” said Pixxel CEO and co-founder Awais Ahmed. “We’re committed to providing a critical tool in the fight against climate change, helping researchers and on-the-ground responders detect and develop effective strategies to combat imminent environmental threats. This funding will not only assist us with this goal but will help us improve our software capabilities so that organizations of all sizes can access and understand this data.”

Pixxel is launching the first of its hyperspectral satellites as 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 satellite images collect 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 such as monitoring methane emissions, quantifying carbon sequestration, and monitoring disease outbreaks across cropland.

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.

Pixxel also successfully retrieved its first hyperspectral satellite images 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.

Support from investors:

“We’re thrilled to be joining Awais, Kshitij, and the broader Pixxel team in their mission to build a health monitor for the planet. Pixxel’s hyperspectral imaging platform is capable of diagnosing climate impacts at global scale, providing granular insights to any business that benefits from understanding how the earth is changing,” said Parasvil Patel, Partner at Radical Ventures. “By leveraging their proprietary sensor design, Pixxel is pushing the state of the art on imagery resolution. These images feed powerful, AI-powered predictive models that will be relevant to many industries.”

“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,” says 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."

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.

About Radical Ventures

Created by AI founders for AI founders, Radical Ventures is an early-stage venture capital firm investing in people applying artificial intelligence to transform massive industries. Radical invests in enterprises shaping the future of how we live, work and play. From healthcare and financial services to infrastructure and manufacturing, Radical partners with entrepreneurs who understand the transformational power of AI. Learn more at www.radical.vc.

About Seraphim Space

Seraphim Space is the world’s leading specialist investor in SpaceTech and Manager of the London Stock Exchange listed Seraphim Space Investment Trust Plc. Powered by smart capital from leading Space companies and government agencies, we have a unique model combining investment funds and accelerators with Seraphim Space Accelerator. Across our activities we have now supported more than 70 SpaceTech companies, making us the most prolific SpaceTech investment group globally. Our portfolio includes 3 companies that have IPO'd on Nasdaq / NYSE: AST SpaceMobile (Nasdaq: ASTS), ARQIT (Nasdaq:ARQQ), Spire (NYSE:SPRR) and 1 which has announced their SPAC on NASDAQ D-Orbit.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005027/en/

John O’Brien for Pixxel Space at pixxel@strangebrewstrategies.com

 

Source: Pixxel

FAQ

What recent funding did Pixxel secure?

Pixxel recently secured $25 million in Series A funding to enhance its hyperspectral satellite production.

When is Pixxel's first satellite launching?

Pixxel's first hyperspectral satellite is set to launch on SpaceX's Transporter-4 mission in April.

What distinguishes Pixxel's satellite technology?

Pixxel's satellites offer 50x higher resolution compared to existing multispectral sensors.

How does Pixxel address climate issues?

Pixxel provides AI-powered insights to monitor and analyze climate-related concerns at a lower cost than traditional satellite methods.