The Canadian-based Radical Ventures led a $25 million Series A funding round for the spacetech startup Pixxel, which also included institutional investors like Seraphim Space Investment, Blume Ventures, Lightspeed Partners, Sparta, and Inventus Capital India as well as angel investors like Jordan Noone.
Pixxel is building a constellation of high-resolution hyperspectral imaging satellites in order to offer its clients AI-powered insights that swiftly identify, address, and foresee climate-related problems. The investment was made by Accenture Ventures, Accenture’s startup investment division, but the terms of the agreement were kept confidential. Funding for the industry will rise by 198.67% to $67.2 million in 2021 from $22.5 million in 2020, according to a Tracxn analysis.
