Accenture Invests in Hyperspectral Satellite Company Pixxel to Monitor Earth’s Health
NEW YORK and BANGALORE, India; Aug. 30, 2022 – Accenture (NYSE: ACN) has made a strategic funding, by means of Accenture Ventures, in Pixxel, a pacesetter in cutting-edge earth imaging know-how. Based in Bangalore with a presence in Los Angeles, Pixxel is constructing the world’s highest decision hyperspectral imaging satellite tv for pc constellation in order to provide business AI-powered insights that uncover, remedy, and predict local weather points at a fraction of the price of conventional satellites.
Pixxel’s satellites can seize photographs at a whole bunch of wavelengths in the electromagnetic spectrum and reveal key knowledge in regards to the well being of our planet that’s invisible to different satellites. The firm’s deliberate constellation of hyperspectral satellites will reshape how companies throughout agriculture, protection, mining, environmental, and different vital industries make selections on a worldwide degree to cut back their environmental influence. The knowledge from Pixxel’s satellites supplies 8x extra info and 50x higher decision than present in-market choices.
“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[1], and Pixxel is a particularly exciting company sitting at the intersection of space technology and sustainability,” mentioned 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 business part satellites are scheduled to be launched in early 2023 together with the business sale of its knowledge. With six satellites flown in a sun-synchronous orbit (SSO) round a 550 km altitude, Pixxel’s hyperspectral constellation might be ready to cowl any level on the globe each 48 hours. With much more satellites scheduled to launch in late 2023, Pixxel will obtain day by day international protection by early 2024. The learnings from the information beamed down by this constellation will present a worldwide scale perspective of planetary-scale ecosystems and biospheres that might be used to create an AI-informed evaluation 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,” mentioned 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 newest firm to be a part of Accenture Ventures’ Project Spotlight, an engagement and funding program centered on investing in firms that create or apply disruptive enterprise applied sciences. In addition to funding, Project Spotlight connects rising know-how software program startups with the Global 2000 to fill strategic innovation gaps, and presents in depth entry to Accenture’s area experience and enterprise purchasers, serving to startups harness human creativity and ship on the promise of their know-how.
“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,” mentioned 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 funding in Pixxel follows a $25 million Series A funding spherical the corporate introduced in March 2022 and the launch of their first satellite tv for pc as a part of SpaceX’s April Transporter-4 payload. To date, greater than 50 prospects have signed pre-launch agreements with Pixxel from industries spanning agriculture, oil and gasoline, mining, and local weather sectors.
Terms of the funding weren’t disclosed.
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About Pixxel
Pixxel is constructing a well being monitor for the planet by constructing and launching the world’s highest decision hyperspectral imaging satellites. Co-founded by then 20 12 months olds Awais Ahmed and Kshitij Khandelwal in 2019, Pixxel has labored with notable organizations such because the Indian Space Research Organization, NASA JPL, and SpaceX amongst house 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 amongst others. For extra info go to www.pixxel.house or comply with Pixxel on Twitter and LinkedIn.
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Contacts:
Christian Harper
Accenture
+1 917 452 4417
[email protected]
John O’Brien
Pixxel
[email protected]
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