Bengaluru: Pixxel has raised $5 million in a seed funding round led by Blume Ventures, growX ventures and Lightspeed India. The round also saw participation from Inventus Capital India and other angel investors including Stanford Angels and Ryan Johnson.
The Bengaluru-based startup had earlier raised $700,000 in seed fund from Techstars and growX Ventures in June, last year.
Conceptualised by Awais Ahmed and Kshitij Khandelwal, Pixxel will deploy the capital to launch its first satellite in November on a Russia-based Soyuz rocket and build and launch its another satellite in 2021.
The investment will also be utilised to develop its proprietary data platform for the analysis of satellite images.