Bengaluru-based aerospace startup, Pixxel, raises $5 million for the development and launch of its earth imaging satellites.
The startup is working to create a group of satellites to take images of the earth while in space, every 24 hours.
“Pixxels satellites will collect information-rich data at a much higher quality than todays satellites that will then be analysed using Pixxels proprietary machine and deep learning models in order to detect, monitor and predict global problems and phenomena,” a statement by Pixxel said, as reported by Economic Times.
The new seed investment round will be put towards preparation for the launch of the startup’s satellite and further development plans, among other areas.
Pixxel has plans to launch its first satellite by the end of 2020, which will provide imaging of the entire sphere of the earth.
Investors in the $5 million seed investment round include Blume Ventures, growX Ventures, Lightspeed India, Inventus Capital India, Stanford Angels and Ryan Johnson, among others.
Johnson previously held the role of CEO at BlackBridge, a satellite-focused company, and will be joining Pixxel’s Board of Directors, as part of the investment deal.
Images received from such satellites can be used in a variety of sectors, including agriculture and farming, electronics, geographical planning and aerospace technology, among other areas.
(Picture courtesy: Media.zenfs.com)
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