Spacetech startup Pixxel raised $25 million in Series A funding led by Canada-based Radical Ventures where Institutional investors such as Seraphim Space Investment, Blume Ventures, Lightspeed Partners, Sparta and Inventus Capital India, and angel investors like Jordan Noone also participated.
Pixxel is developing a high-resolution hyperspectral imaging satellite constellation in order to provide its clients with AI-powered insights that detect, solve, and predict climate issues in real time. Accenture Ventures, Accenture’s startup investment arm, made the investment, but the terms of the deal were not disclosed. According to a Tracxn report, funding in the sector will increase by 198.67% to $67.2 million in 2021 from $22.5 million in 2020.
