A Pixxel Firefly satellite set to launch in early 2025. Photo: Pixxel

Hyperspectral imaging startup Pixxel secured $24 million in a Series B extension round, adding new investors M&G Catalyst and Glade Brook Capital Partners. The investment announced Monday brings Pixxel’s total Series B funding to $60 million.

Pixxel closed the initial Series B round in June of 2023, with Google, Radical Ventures, Lightspeed, and others. Pixxel has raised a total of $95 million to date.

Pixxel said this funding will support the development and launch of its hyperspectral constellation. This consists of six satellites called the Firefly constellation set to launch in early 2025, and 18 additional satellites for a total of 24 satellites. Pixxel also plans to advance its Earth observation platform, Aurora, expand its satellite manufacturing, and grow its operations. 

The Firefly constellation set to launch in early 2025 is designed to provide global hyperspectral coverage with native 5-meter resolution, a 40-kilometer wide swath and daily revisit frequency.

“This funding reflects the bold vision we’ve set out to achieve at Pixxel and echoes the investors’ confidence in Pixxel’s technological capabilities,” said Awais Ahmed, founder and CEO of Pixxel. “The new infusion of capital will help us launch more satellites quicker, transforming how humanity understands and acts on the challenges of our time.” 

Applications for Pixxel’s hyperspectral data include agriculture, climate monitoring, resource management, and more. Ahmed spoke with Via Satellite in 2023 about the company’s target markets and climate focus.