Bengaluru-based Pixxel is preparing to release its first Earth imaging satellite later on this year, with a set up objective aboard a Soyuz rocket. The approximately one-and-a-half-year old business is moving rapidly, and today it’s announcing a $5 million seed financing round to assist it speed up much more. The funding is led by Blume Ventures, Lightspeed India Partners, and growX ventures, while a variety of angel investors participated.
This isn’t Pixxel’s very first outside funding: It raised $700,000 in pre-seed money from Others and techstars last year. This is substantially more capital to invest in the business, and the startup prepares to utilize it to grow its team, and to continue to money the advancement of its Earth observation constellation.
The objective is to completely deploy said constellation, which will be comprised of 30 satellites, by 2022. As soon as all of the business’s little satellites are on-orbit, the Pixxel network will have the ability to provide globe-spanning imaging abilities daily. The startup declares that its technology will have the ability to supply information that’s much greater quality when compared to today’s existing Earth imaging satellites, along with analysis driven by PIxxel’s own deep learning models, which are created to assist identify and even possibly forecast big issues and phenomena that can have impact on a worldwide scale.
Pixxel’s innovation likewise depends on extremely small satellites (generally the size of a bear refrigerator) that nevertheless supply an extremely high quality image at a cadence that even large imaging satellite networks that already exist would have difficulty providing. The startup’s founders, Awais Ahmed and Kshitij Khandelwal, developed the company while still in the procedure of ending up the in 2015 of their undergraduate studies. The founding team participated in Techstars’ Starubst Space Accelerator last year in LA.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.