Pixxel raises $100 million from Temasek, Seraphim in India space tech’s biggest round

Pixxel, a space tech startup and an operator of hyperspectral imaging satellites which provides Earth observation data and analytics, has raised $100 million in a fresh round of funding co-led by Singapore’s Temasek and UK-based Seraphim, the company announced on September 7.

New investors such as 360 ONE Asset, IMM Investment also participated in the round while existing investors Radical Ventures, growX ventures, and others, doubled down. The round brings Pixxel’s total funding to $195 million.

Moneycontrol was first to report on January 1 Pixxel was raising a fresh round of around $55 million from Eternal founder Deepinder Goyal and others. Moneycontrol, on May 22, again reported the round was upsized to $80-100 million as the mix of investors changed and interest among existing investors grew.

While Pixxel -- also backed by Google, Lightspeed, Radical Ventures, Glade Brook Partners, and others -- did not comment on its valuation sources had earlier told Moneycontrol the company was being valued at $450-500 million.

“Years ago, we set out to build a health monitor for the planet. Hyperspectral imaging gave us a fundamentally new way to see Earth. This new investment gives us the scale to turn that vision into planetary infrastructure. More ways of sensing, more intelligence from every image, and more sovereign capability for nations. Our goal is to make a changing planet understandable in time to act," said Awais Ahmed, Founder and CEO of Pixxel.

The funding will accelerate Pixxel's expansion beyond hyperspectral imaging as it builds planetary infrastructure spanning advanced sensing satellites, earth intelligence software, sovereign space systems, and satellite manufacturing.

Mark Boggett, CEO at Seraphim Space, said: "Pixxel is exceptionally well-positioned across some of

the most important themes shaping the future of the space sector, from AI-powered Earth

observation and sovereign space capabilities to the rise of India as a global SpaceTech leader. We're

delighted to deepen our support as the company continues to scale."

The investment in Pixxel marks the single largest funding round raised by a space technology company in India and signals the company's next phase of growth as it broadens its role across the space-tech value chain.

In the wider space tech industry, this is the latest milestone.

Earlier this year, in May, Hyderabad-based Skyroot Aerospace, a private space launch company, turned a unicorn after raising $60 million from Ram Shriram’s Sherpalo, Singapore’s sovereign wealth fund GIC, BlackRock, the founders of renewable energy company Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office, and other investors.

Skyroot is now preparing to raise around $200 million at a $2 billion valuation, Moneycontrol exclusively reported, in a sign that investors are increasingly warming to a sector that has long struggled to attract mainstream funding.

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Find the best of Al News in one place, specially curated for you every weekend.

Stay on top of the latest tech trends and biggest startup news.