On June 4th, Gizcoupon reported that, according to Reuters, Pixxel, an Indian satellite imagery startup based in Bangalore, recently secured funding of $36 million. This is also the first major investment that the country has received in this field since the Indian government opened up the privatization of the field of spaceflight in April this year.
Established in 2019, Pixxel is currently building a satellite system. These satellites are able to identify mineral deposits or the productivity of crops by analyzing the spectral signature of the images.
The business of Pixxel has gained global recognition, with clients such as Rio Tinto, one of the largest iron ore mining companies in the world, and DataFraming, an Australian agricultural technology firm. Previously, the startup raised $71 million from investors, including Accenture, but its valuation remains undisclosed.
Google has openly disclosed its investment in Pixxel through its India Digitization Fund. It focuses on investing in Indian startups.
Awais Ahmed, the founder, and CEO of Pixxel, expressed his belief that Pixxel will become the “most valuable space technology company in India” following this investment. He also stated, “We utilize satellite data, and Google has made significant strides in agriculture and the environment. Additionally, with their Google Earth platform combined with our business, Google sees the potential benefits.”