Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite
- The two-year old Bengaluru and LA-based
Pixxelhas raised the funds from Techstars, Omnivore VC and others.
- Founded by Awais Ahmed and Kshitij Khandelwal, the startup had last raised $5 million in August 2020.
- Pixxel, which was supposed to launch its first satellite Anand on February 28 had delayed the same due to software issues.
AdvertisementBengaluru and Los Angeles-based Pixxel has lapped up $7.3 million (₹52.8 crore) in a seed funding round from Techstars, Omnivore VC and others.
The space data startup, which is one of India’s most hyped
“We started looking at space as a sector for us to be able to work in, and we realized that what we wanted to do was to be able to enable people to take resources from space to use in space. That included asteroid mining, for example, and when we investigated that, we found hyperspectral imaging was the imaging tech that would enable us to map these asteroids as to whether they contain these metals or these minerals. So that knowledge sort of transferred to this more short-term problem that we were looking at solving,” co-founder Awais Ahmed told TechCrunch in an interview.
The two year old startup, founded by Ahmed and Kshitij Khandelwal, had last raised $5 million (₹36 crore) in August 2020, which was called as one of the largest seed funding rounds in India back then.
“Excited to deploy some of the best imaging tech that’s ever been put in orbit and bring the benefits of space down to earth,” Ahmed said in a post on Twitter.
Pixxel, which was supposed to launch its first satellite Anand on February 28 had delayed the same due to software issues. Anand is a part of Pixxel’s Firefly fleet of earth observation satellites. The Firefly fleet is a constellation of satellites that Pixxel is aiming to deploy in Low Earth Orbit (LEO) to monitor the planet around the clock.
In December 2020, the startup had also partnered with NewSpace India Limited (NSIL), the commercial arm of India’s premier space agency ISRO, to launch Pixxel’s remote-sensing satellite on a ISRO PSLV rocket.
The Indian spacetech sector has been heating up, as the government too has been extending its support to the sector.
Space is the space to be in! I assure you, and several others like you, of the constant support from the Governme… https://t.co/bcLL9hhNBP— Narendra Modi (@narendramodi) 1607958091000
India’s premier space agency ISRO has also opened its door to startups through the programme – Space Entrepreneurship & Enterprise Development (SEED).
Indian space startup Pixxel won’t be launching its satellite on February 28
Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon
Popular on BI
- Dharmaj Crop Guard IPO subscribed 1.79 times on day 1
- As Sensex, Nifty50 hit record highs, this is what experts are advising investors
- FM concludes week-long consultation meetings for Budget 2023-24
- WhatsApp data of 500 million users might be on sale says Mashable India
- Traders' body seeks printing of Indian Nutrition rating on food packets