Bengaluru-based space-tech startup Pixxel has raised $100 million in its Series C funding round, co-led by Temasek and Seraphim Space. The latest investment comes as Indian space companies attract larger private investments and expand into satellite-based services.
This round also includes new investors 360 ONE Asset and IMM Investment. Existing backers, including Radical Ventures and growX Ventures, also participated. With this fundraise, Pixxel total funding has reached $195 million.
Pixxel said the latest round is the largest funding raised by an Indian space-tech company. Media reports have estimated the startup valuation at around $450 million to $500 million following the Series C round. The company has not publicly disclosed the financial terms linked to its latest valuation.
Fresh capital will be used to expand Pixxel beyond hyperspectral imaging, an advanced satellite imaging technology that captures information across a wider range of light than normal cameras. The startup plans to build capabilities in advanced sensing satellites, Earth intelligence software, sovereign space systems and satellite manufacturing.
Pixxel Space Business
Pixxel plans to expand its Honeybee satellite constellation and develop high-resolution optical imaging satellites. It will also scale Aurora, its Earth intelligence platform, while increasing satellite manufacturing capacity through Gigapixxel.
Company has gradually moved from being focused mainly on hyperspectral imaging satellites to offering a wider set of space and Earth observation capabilities. Its products are aimed at commercial customers as well as government and sovereign missions.
Pixxel was founded by Awais Ahmed and Kshitij Khandelwal. Before the latest funding round, the startup had raised about $95 million from investors including Google, Lightspeed, Radical Ventures, Blume Ventures, growX Ventures, Glade Brook Partners and Seraphim Space.
Startup closed its $60 million Series B round in December 2024. The latest investment therefore marks a significant increase in the amount of capital raised as Pixxel moves towards larger satellite and Earth observation projects.
Over the past two years, Pixxel has deployed six Firefly satellites and launched its Aurora Earth intelligence platform. It has also secured contracts with NASA and the National Reconnaissance Office (NRO), while winning multiple iDEX challenges from the Ministry of Defence.
Pixxel has also been selected to lead the development of India first public-private Earth observation constellation under IN-SPACe. The proposed constellation will include 12 satellites and is expected to expand access to Earth observation data for different applications.
Latest funding comes soon after Skyroot Aerospace became the first Indian space-tech startup to reach unicorn status, crossing a valuation of $1 billion. The development highlights the growing investor interest in private space companies as India expands its commercial space sector.
For Pixxel, the new capital provides funding for a broader push across satellites, software and manufacturing. The company now plans to increase its presence across the Earth observation value chain rather than remain limited to one satellite imaging technology.
How Pixxel Started
Pixxel began with a focus on hyperspectral imaging satellites. The technology can capture detailed information about materials and conditions on the Earth surface, making it useful for areas such as agriculture, climate monitoring, mineral exploration and other forms of Earth observation.
Founded by IIT graduates Awais Ahmed and Kshitij Khandelwal, Pixxel has since expanded its work into satellite systems and Earth intelligence software. Its Firefly satellites, Aurora platform and planned Honeybee constellation form part of a broader strategy to build an integrated space technology business.
Series C funding gives Pixxel additional capital to increase satellite production, develop new sensing technologies and expand its software capabilities. The company will also need to scale manufacturing and satellite deployment as it takes on larger commercial and government projects.
