NEW YORK and BANGALORE, India; Aug. 30, 2022 – Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Pixxel, a leader in cutting-edge earth imaging technology. Based in Bangalore with a presence in Los Angeles, Pixxel is building the world’s highest resolution hyperspectral imaging satellite constellation in order to offer industry AI-powered insights that discover, solve, and predict climate issues at a fraction of the cost of traditional satellites.
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. The data from Pixxel’s satellites provides 8x more information and 50x better resolution than existing in-market options.
“We continue to take great interest in startups within the burgeoning space industry, which some have forecasted will reach $1 trillion in revenue by the year 2040, and Pixxel is a particularly exciting company sitting at the intersection of space technology and sustainability,” said Tom Lounibos, managing director, Accenture Ventures. “Imagine being able to predict a famine before a crop infestation takes over or stop an oil spill before it endangers delicate oceanic biospheres. Pixxel’s hyperspectral imaging technology has the potential to do just that, and in doing so, could help scientists address some of the world’s most pressing challenges to our Earth.”
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, Pixxel’s hyperspectral constellation will be able to cover any point on the globe every 48 hours. With even more satellites scheduled to launch in late 2023, Pixxel will achieve daily global coverage by early 2024. The learnings from the data beamed down by this constellation will provide a global scale perspective of planetary-scale ecosystems and biospheres that will be used to create an AI-informed analysis platform and a digital twin of the earth. “Our investment in Pixxel reflects our ongoing and active engagement with the promising startup ecosystem in India and more such engagements are key for creating solutions that drive real world impact,” said Mahesh Zurale, senior managing director, lead – Advanced Technology Centers in India, Accenture. “With so many aspects of our daily lives being increasingly impacted by climate and sustainability issues, we believe Pixxel’s Earth Health Monitoring can play a crucial role by enabling global organizations to detect potentially damaging events early on and help prevent them.”
Pixxel is the latest company 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.
“We’re excited to join Accenture’s Project Spotlight and collaborate with Accenture’s innovation labs, business and industry experts, and powerful clients and ecosystem partners across aerospace, science, technology and sustainability,” said Pixxel CEO and co-founder Awais Ahmed. “Accenture’s global reach and support will help accelerate our ambitious mission to create a health monitor for the Earth and leverage our technology to address some of the most pressing issues facing our planet.”
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. To date, more than 50 customers have signed pre-launch agreements with Pixxel from industries spanning agriculture, oil and gas, mining, and climate sectors.
Terms of the investment were not disclosed.
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Pixxel is building a health monitor for the planet by building and launching the world’s highest resolution hyperspectral imaging satellites. Co-founded by then 20 year olds Awais Ahmed and Kshitij Khandelwal in 2019, Pixxel has worked with notable organizations such as the Indian Space Research Organization, NASA JPL, and SpaceX among space stalwarts. Pixxel is backed by Lightspeed, Radical Ventures, Relativity's Jordan Noone, Seraphim Capital, Ryan Johnson, Blume Ventures, Sparta LLC, growX ventures, Inventus Capital, and Omnivore VC among others.
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