Pixxel Raises $100 Million Series C Led by Temasek and Seraphim Space

Bengaluru-based space-tech startup Pixxel has raised $100 million in a Series C round co-led by Temasek and Seraphim Space. The round also included new investors 360 ONE Asset and IMM Investment, along with existing backers Radical Ventures and growX Ventures, among others. The latest raise takes Pixxel’s total funding to $195 million.

Pixxel said the round is the largest funding raised by a space-tech company in India. Media reports cited in the source suggest the startup is valued at around $450-500 million in the latest round.

Pixxel plans to use the fresh capital to expand beyond hyperspectral imaging into advanced sensing satellites, Earth intelligence software, sovereign space systems and satellite manufacturing. Its roadmap includes expanding the Honeybee constellation and developing high-resolution optical imaging satellites.

The company also plans to scale its Aurora Earth intelligence platform and increase manufacturing capacity through Gigapixxel. For readers tracking the sector, the key takeaway is that Pixxel is positioning itself across both satellite infrastructure and downstream intelligence software.

Founded by Awais Ahmed and Kshitij Khandelwal, Pixxel initially focused on hyperspectral imaging satellites. It has since expanded into Earth intelligence software and satellite systems for commercial and sovereign missions.

Before this 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 raise comes shortly after Skyroot Aerospace became the first Indian space-tech startup to achieve unicorn status, crossing the $1 billion valuation mark. Together, these developments point to rising investor attention on Indian space-tech companies.

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.