Accenture invests in hyperspectral satellite company Pixxel to monitor Earth’s health

Accenture invests in hyperspectral satellite company Pixxel to monitor Earth’s health

NEW YORK and BANGALORE, India; August 30, 2022 – Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Pixxel, a leader in advanced terrestrial imaging technology. Based in Bangalore with a presence in Los Angeles, Pixxel is building the world’s highest resolution hyperspectral imaging satellite constellation to bring industry AI-powered insights that discover, solve and predict problems at a fraction of the cost of traditional satellites.

Pixxel’s satellites can capture images at hundreds of wavelengths in the electromagnetic spectrum and reveal key data about our planet’s health that are invisible to other satellites. The company’s planned constellation of hyperspectral satellites will reshape the way companies in agriculture, defense, mining, environment and other critical industries make global decisions to reduce their environmental impact. Pixxel’s satellite data provides 8 times more information and 50 times better resolution than existing options on the market.

“We continue to take a keen interest in startups in the burgeoning space industry, which some believe will reach $1 trillion in revenue by 2040.[1], and Pixxel is a particularly exciting company located at the intersection of space technology and sustainability,” said Tom Lounibos, Managing Director of Accenture Ventures. “Imagine being able to predict a famine before a crop infestation takes over or stop an oil spill before it endangers delicate ocean 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 commercial phase satellites are expected to launch in early 2023 with the commercial sale of its data. With six satellites in sun-synchronous orbit (SSO) around an altitude of 550 km, Pixxel’s hyperspectral constellation will be able to cover any point on the globe every 48 hours. With even more satellites slated for launch in late 2023, Pixxel will achieve daily global coverage by early 2024. Insights from the data transmitted by this constellation will provide a global-scale perspective of ecosystems and biospheres at the planetary scale that will be used to create an AI-informed analytics platform and a digital twin of the earth.

“Our investment in Pixxel reflects our continued and active engagement with India’s promising startup ecosystem and further such engagements are critical to building solutions that have real impact,” said Mahesh Zurale, Senior Managing Director, Head of Advanced Technology Centers in India, Accenture. “With so many aspects of our daily lives increasingly impacted by climate and sustainability issues, we believe Pixxel’s Earth health monitoring can play a crucial role in enabling global organizations to quickly detect potentially damaging events and to help prevent them.”

Pixxel is the latest company to join Accenture Ventures’ Project Spotlight, an engagement and investment program focused on investing in companies that create or apply disruptive enterprise technologies. In addition to funding, Project Spotlight connects emerging technology software startups to the Global 2000 to fill strategic innovation gaps, and provides expanded access to Accenture’s domain expertise and enterprise clients, helping startups to harness human creativity and deliver on the promise of their technology.

“We are excited to join Accenture’s Project Spotlight and collaborate with Accenture’s innovation labs, business and industry experts, and powerful customers and ecosystem partners in aerospace, science, technology and sustainability,” said Awais Ahmed, CEO and co-founder of Pixxel. “Accenture’s global reach and support will help us accelerate our ambitious mission to create a health monitor for the Earth and leverage our technology to solve some of the most pressing issues facing our planet.”


Accenture’s investment in Pixxel follows $25 million in Series A funding announced by the company in March 2022 and the launch of its first satellite as part of SpaceX’s April Transporter-4 payload. To date, more than 50 customers have signed pre-launch agreements with Pixxel in the Agriculture, Oil & Gas, Mining and Climate sectors.


Terms of the investment were not disclosed.

About Accenture
Accenture is a global professional services company with industry-leading digital, cloud and security capabilities. Combining unparalleled experience and specialist skills in more than 40 industries, we offer strategy and advisory, technology and operations, and Accenture Song services, all powered by the world’s largest network of advanced technology centers and smart operations. Our 710,000 people deliver on the promise of technology and human ingenuity every day, serving customers in more than 120 countries. We embrace the power of change to create value and shared success for our customers, employees, shareholders, partners and communities. Visit us at accenture.com.



About Pixel
Pixxel is building a health monitor for the planet by building and launching the world’s highest resolution hyperspectral imaging satellites. Co-founded by Awais Ahmed and Kshitij Khandelwal, then 20, in 2019, Pixxel has worked with notable organizations such as the Indian Space Research Organization, NASA JPL and SpaceX among space stalwarts. Pixxel is backed by Lightspeed, Radical Ventures, Jordan Noone of Relativity, Seraphim Capital, Ryan Johnson, Blume Ventures, Sparta LLC, growX ventures, Inventus Capital, and Omnivore VC, among others. For more information, visit www.pixxel.space or follow Pixxel on Twitter and LinkedIn.

 

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contacts:

christian harper
Accenture
+1 917 452 4417
[email protected]


John O’Brien
Pixell
[email protected]


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