Accenture Venture makes strategic investment in satellite startup Pixxel

Accenture announced on Tuesday that it has made a strategic investment through Accenture Ventures, in Pixxel, an earth imaging technology company. Based in Bengaluru with a presence in Los Angeles, Pixxel is building the world’s highest resolution hyperspectral imaging satellite constellation in order to offer industry AI-powered insights that discover, solve, and predict climate issues 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 that is invisible to other satellites, about the health of the planet, said the company.

The company’s planned constellation of hyperspectral satellites will reshape how agriculture, defence, mining, environmental, and other critical sectors make decisions on a global level to reduce their environmental impact. The data from Pixxel’s satellites provides 8x more information and 50x better resolution than existing in-market options, claimed the company.

“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,” said Tom Lounibos, managing director, Accenture Ventures.

He further added: “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 commercial phase satellites are scheduled to be launched in early 2023 along with the commercial sale of its data. With six satellites flown in a sun-synchronous orbit (SSO) around a 550 km altitude, Pixxel’s hyperspectral constellation will be able to cover any point on the globe every 48 hours. With even more satellites scheduled to launch in late 2023, Pixxel will achieve daily global coverage by early 2024.

“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,” said 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.”