India's first major investment after opening up the privatization of aerospace landed, Google led a new round of financing of $36 million in Pixxel

CTOnews.com, June 2 (Reuters)-Pixxel, a satellite imagery startup based in Bangalore, India, recently completed a financing of $36 million (CTOnews.com Note, currently about 255 million yuan), the first major investment in the aerospace sector since the Indian government opened up the privatization of the aerospace sector in April this year.

Pixxel was founded in 2019 and is currently building a satellite system that can identify mineral deposits or crop productivity by analyzing the spectral characteristics of images.

Pixxel's business has gone global, such as Rio Tinto, one of the world's three iron ore giants, and DataFraming, an Australian agricultural technology company. The start-up had previously raised $71 million from investors such as Accenture, but Pixxel did not disclose its valuation.

Google has said publicly that it has invested in Pixxel through its India digital fund, which focuses on investing in Indian start-ups.

Pixxel founder and CEO Awais Ahmed said Pixxel would be "the most valuable space technology company in India after this investment", adding, "We use satellite data, and Google has done a lot of work in agriculture and the environment, coupled with their Google Earth, combined with our business, Google sees benefits."