Seraphim Space Investment Trust PLC (LSE:SSIT) has contributed to a US$25mln series-A funding round for Pixxel, a company that says it is "building a health monitor for the planet" with its earth-imaging technology.
Founded in India, Pixxel is developing a constellation of the world’s highest resolution hyperspectral imaging satellites, with the first to be carried into space as part of SpaceX’s upcoming April Transporter-4 mission.
While traditional satellite images collect data in the visible light spectrum, hyperspectral imaging collects data across 40 times more wavelengths and can be used for applications such as monitoring methane emissions, quantifying carbon sequestration, and monitoring disease outbreaks across cropland.
Its microsatellites have 50 times higher resolution than existing multispectral counterparts and unlike multispectral sensors carried by drones or based on land, Pixxel's network is designed to be able to capture data at global scale, in real-time.
The new funding enables Pixxel to speed the production of its satellites, which it claims will offer AI-powered tools for industries such as agriculture, oil and gas and mining, as well as environmental agencies, "that discover, solve, and predict climate issues at a fraction of traditional satellite costs".
Pixxel said its first hyperspectral satellite images were captured by a camera that was launched last year that showed the crop health of a Mexican farmer's field, "showing previously indistinguishable soil nutrient content, early stress identifiers, water quality levels, and types of flora in the vegetation. The wealth of information in these images validate Pixxel’s revolutionary approach to spectroscopy for earth observation – detecting, monitoring, and analyzing phenomena beyond what's possible with existing remote sensing solutions."
Welcoming the new funding, Pixxel chief executive offier and co-founder Awais Ahmed said: "We’re committed to providing a critical tool in the fight against climate change, helping researchers and on-the-ground responders detect and develop effective strategies to combat imminent environmental threats. This funding will not only assist us with this goal but will help us improve our software capabilities so that organizations of all sizes can access and understand this data.”
Lewis Jones, investment manager at Seraphim Space, said the investment in Pixxel "reflects Seraphim's increasing commitment and focus on companies that can provide the frequent and accurate data needed to create a sustainable future on earth".
He hailed Pixxel's "revolutionary" imaging approach that enabled it to retain "a very high spatial and spectral resolution while using cost-effective satellites and compact satellites".