L.A. and Bangalore-based hyperspectral imaging startup Pixxel raised $36 million Series B led by Google where existing investors Radical Ventures, Lightspeed, Blume Ventures, GrowX, Sparta and Athera also participated.
Pixxel has developed a constellation of small satellites that can capture hyperspectral images of the Earth’s surface. Hyperspectral imaging uses a spectrometer to identify the spectral signature of objects, which can be used to identify different materials, such as minerals, plants, and water.
The data from Pixxel’s satellites can be used for a variety of applications, including:
Agriculture: Farmers can use the data to monitor crop health, identify pests and diseases, and optimize irrigation.
Mining: Mining companies can use the data to identify mineral deposits and assess the quality of ore.
Environment: The data can be used to monitor deforestation, track climate change, and detect natural disasters.
Security: The data can be used to monitor borders, track illegal activities, and identify potential threats.
With the new funding, Pixxel plans to expand its constellation of satellites, develop new analytics tools, and make its data more accessible to a wider range of users. The company also plans to open a new office in Washington, D.C.
“We are excited to partner with Google to accelerate our mission of making hyperspectral data more accessible and affordable,” said Awais Ahmed, CEO and co-founder of Pixxel. “This funding will allow us to expand our constellation of satellites, develop new analytics tools, and make our data more accessible to a wider range of users.”
“We are impressed with Pixxel’s team and their vision for making hyperspectral data more accessible,” said Brian McClendon, Vice President of Geo at Google. “We believe that hyperspectral data has the potential to revolutionize the way we understand the Earth, and we are excited to partner with Pixxel to make this vision a reality.”
Pixxel is one of a number of startups that are developing new ways to use satellite imagery to collect data about the Earth. Other companies in this space include Planet Labs, BlackSky, and Capella Space.
The growth of the hyperspectral imaging market is being driven by a number of factors, including the increasing demand for data from governments and businesses, the development of new satellite technologies, and the growing availability of cloud computing resources.
The market for hyperspectral imaging is expected to grow significantly in the coming years. According to a report by MarketsandMarkets, the global market for hyperspectral imaging is expected to reach $1.5 billion by 2025.
