Pixxel has raised $100 million in a Series C round co-led by Temasek and Seraphim Space – the largest funding raised by a space-tech company in India so far.
The Bengaluru-based startup also saw participation from new investors 360 ONE Asset and IMM Investment, along with existing backers Radical Ventures and growX Ventures. The round takes Pixxel’s total funding to $195 million. Media reports suggest the company is being valued at around $450-500 million.
Beyond hyperspectral imaging
Pixxel will use the fresh capital to expand beyond its core hyperspectral imaging business into advanced sensing satellites, Earth intelligence software, sovereign space systems and satellite manufacturing.
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Its plans include expanding the Honeybee constellation, developing high-resolution optical imaging satellites, scaling the Aurora Earth intelligence platform and increasing manufacturing capacity through its Gigapixxel facility.
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Founded by two IITians
Pixxel was founded by Awais Ahmed and Kshitij Khandelwal. The company started with hyperspectral imaging satellites and has since moved into Earth intelligence software and satellite systems for commercial and sovereign missions.
Before this round, Pixxel had raised $95 million from investors including Google, Lightspeed, Radical Ventures, Blume Ventures, growX Ventures, Glade Brook Partners and Seraphim. Its Series B closed at $60 million in December 2024.
Track record in space
The startup has deployed six Firefly satellites over the past two years, launched the Aurora platform and secured contracts with NASA and the NRO. It has also won multiple iDEX challenges from the Ministry of Defence.
Pixxel was selected to lead the development of India’s first public-private Earth observation constellation of 12 satellites under IN-SPACe. The fresh capital puts it in a strong position as Indian spacetech gains momentum, with Skyroot recently becoming the sector’s first unicorn.
Seeing beyond the visible
Hyperspectral imaging captures light across dozens of narrow bands beyond what the human eye can see. The data helps scientists track crop health, spot water stress, detect emissions and monitor land use from orbit, which is why governments and companies are lining up for sharper imagery.
Pixxel’s push into advanced sensing, Earth intelligence software and satellite manufacturing positions it to serve both commercial buyers and sovereign customers. The company is also a key player in India’s wider space push, which has picked up pace with private launches, new policies and growing investor interest in the sector.