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Alternative Assets  + VC  | 
Google Leads $36M Round in Satellite Imaging Startup Pixxel

Google Leads $36M Round in Satellite Imaging Startup Pixxel 

Space-tech startup Pixxel, which is building a constellation of hyperspectral imaging satellites for monitoring the earth, raised $36 million in a Series B funding round and found a new investor in Google. The size of the investment was not disclosed. 

Other participants in the round included existing investors Radical Ventures, Lightspeed Venture Partners, Blume Ventures, growX, Sparta and Athera Venture Partners 

With the latest round, the LA and Bengaluru, India-based Pixxel has raised $71 million, including a $25 million Series A in March 2022, and a $7.3 million seed round in 2021. Accenture also made a strategic investment in August 2022, the size of which wasn’t disclosed. 

“With this round of funding, we are even closer now to realizing our mission of building a health monitor for the planet, and empowering people around the world to make informed decisions about our collective well-being,” said Awais Ahmed, co-founder and CEO of Pixxel. 

The new funds will also help further the development of ‘Aurora’, Pixxel’s AI-powered analytics platform to make hyperspectral analysis accessible for everyone. The funds will also bolster Pixxel’s plans to launch six satellites in 2024 and another 18 by 2025. 

Google’s first investment in an Indian startup came in June 2014 through its investment arm Google Capital, when it invested in homegrown IT services startup Freshworks (then Freshdesk), four years prior to the company shifting its headquarters to the US. 

Hear from industry leaders in alternative assets like Capital Innovations Founder, CEO, CIO, and ADISA President Michael Underhill. Connect with top executives in private credit, real estate and more at the Connect Money: Alternative Assets Conference in Chicago on June 14 at the W City Center. 

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Pixxel

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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