Bengaluru-based space-tech startup Pixxel has raised $100 million in its Series C funding round co-led by Temasek and Seraphim Space.
The round also saw participation from new investors 360 ONE Asset and IMM Investment, along with existing backers Radical Ventures and growX Ventures, among others. The latest fundraise takes Pixxel’s total funding to $195 million. The company said the round is the largest funding raised by a space-tech company in India.
Media reports suggest that Pixxel is being valued at around $450-500 million in the latest round.
Pixxel will use the fresh capital to expand beyond hyperspectral imaging into advanced sensing satellites, Earth intelligence software, sovereign space systems and satellite manufacturing. Its plans include expanding the Honeybee constellation, developing high-resolution optical imaging satellites, scaling its Aurora Earth intelligence platform and increasing manufacturing capacity through Gigapixxel.
Founded by Awais Ahmed and Kshitij Khandelwal, Pixxel initially focused on hyperspectral imaging satellites and has since expanded into Earth intelligence software and satellite systems for commercial and sovereign missions.
Before the latest round, Pixxel had raised $95 million from investors including Google, Lightspeed, Radical Ventures, Blume Ventures, growX Ventures, Glade Brook Partners and Seraphim. The startup closed its Series B round at $60 million in December 2024.
The latest round comes shortly after Skyroot Aerospace became the first Indian space-tech startup to achieve unicorn status, crossing the $1 billion valuation mark.
Over the past two years, Pixxel has deployed six Firefly satellites, launched Aurora and secured contracts with NASA and the NRO. It has also won multiple iDEX challenges from the Ministry of Defence and was selected to lead the development of India’s first public-private Earth observation constellation of 12 satellites under IN-SPACe.