Accenture has made a strategic investment in Pixxel, a space tech company that is building the world's highest resolution hyperspectral imaging satellite constellation. The terms of the deal are yet to be disclosed by the firm.
The investment has been done through Accenture's start-up venture arm ‘Accenture Ventures’, to offer AI-powered insights to predict, discover, and solve climate issues at a fraction of the cost of traditional satellites.
Tom Lounibos, managing director, Accenture Ventures, said, “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.”
The satellites are capable of capturing images at hundreds of wavelengths in the electromagnetic spectrum, revealing key data about the health of our planet. The first commercial phase satellites are scheduled to launch in early 2023 along with the commercial sale of its data.
Pixxel raised $25 million in its Series A funding round led by Canada-based Radical Ventures in May 2022 to ramp up production. The firm is Asia's only space startup to qualify for the 2019 Techstars Starburst Space Accelerator in Los Angeles.
The Indian–US private aerospace manufacturer company aims to put over 30 hyperspectral earth observation micro-satellites into a sun-synchronous orbit in the 2020s.
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