Bengaluru-based Pixxel raises $5 mn in seed funding round
Pixxel, a space technology company working towards creating Indiaâ€™s first constellation of microsatellites in the LEO, announced that it has raised $5 million in seed funding led by Blume Ventures, GrowX Ventures and Lightspeed India. Other investors that participated in the round include Inventus Capital India, Stanford Angels and Ryan Johnson, co-founder of satellite imaging company BlackBridge. Founded in 2019 by Awais Ahmed and Kshitij Khandelwal, Pixxel will utilise the funding to launch their first satellite in November atop a Russian Soyuz rocket, and build and launch its second satellite sometime in mid-2021. The startup will also utilise a part of the funding to build its proprietary data platform for analysis of satellite images. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers.