Pixxel Receives Investment from Accenture

Accenture Ventures made a strategic acquisition, in which Accenture (NYSE – ACN) was involved Pixxela Bangalore-based earth imaging company.

The deal’s amount was not disclosed.

Pixxel was founded in 2019 by Awais Ahmed, then 20, and Kshitij Khandelwal, now 20. This satellite constellation provides industry-specific insights using AI that can solve and predict climate problems.

Pixxel’s satellites can capture images at hundreds of wavelengths in the electromagnetic spectrum and reveal key data about the health of our planet that is invisible to other satellites. The company’s planned constellation of hyperspectral satellites will reshape how businesses across agriculture, defense, mining, environmental, and other critical industries make decisions on a global level to reduce their environmental impact.

Pixxel’s first commercial phase satellites are scheduled to be launched in early 2023 along with the commercial sale of its data. With six satellites flown in a sun-synchronous orbit (SSO) around a 550 km altitude, the company’s hyperspectral constellation will be able to cover any point on the globe every 48 hours. Pixxel plans to have daily coverage of the entire globe by 2024 with more satellites due for launch in the second half of 2023. This constellation will use the information it gathers to provide a global perspective on planetary-scale ecosystems, biospheres, and AI-informed analysis platforms. It will also be used to create a digital twin of Earth.

Pixxel is to join Accenture Ventures’ Project Spotlight, an engagement and investment program focused on investing in companies that create or apply disruptive enterprise technologies. In addition to funding, Project Spotlight connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps, and offers extensive access to Accenture’s domain expertise and enterprise clients, helping startups harness human creativity and deliver on the promise of their technology.

Accenture’s investment in Pixxel follows a $25 million Series A funding round the company announced in March 2022 and the launch of their first satellite as part of SpaceX’s April Transporter-4 payload. More than 50 customers from various industries have signed prelaunch agreements with Pixxel to date.

Los Angeles is also a home for the company.

FinSMEs

30/08/2022

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