Pixxel Secures Upsized $80 Million Funding Round with GIC Set to Double Down
Deepinder Goyal Exits Pixxel Funding Round, GIC Upsizes Investment
Deepinder Goyal, the founder and former group chief executive officer of Eternal (formerly Zomato), has opted out of a funding round for space tech startup Pixxel. Sources close to the matter informed Moneycontrol that Goyal had initially planned to invest $25-30 million (around Rs 240-290 crore) in Pixxel, but has since stepped down from the role and chosen to focus on personal projects.
Meanwhile, Pixxel's funding round is being expanded, with the Bengaluru-based startup now seeking to raise between $80 million and $100 million. This is an increase from the initial $55-60 million discussed earlier. GIC, an existing investor in Pixxel, is expected to increase its commitment to the round, reflecting its stronger conviction in the company and helping to expand the overall fundraise.
Pixxel's existing investors will put in the remaining amount on a pro rata basis. The company is backed by investors such as Google, Lightspeed, Glade Brook, Aditya Birla Ventures, Blume, and others.
Comparison of Funding Rounds
| Company | Funding Round Size |
|---|---|
| Skyroot | $60 million |
| Agnikul Cosmos | $17 million |
| Digantara | $50 million |
| Pixxel (initial) | $55-60 million |
| Pixxel (current) | $80-100 million |
Pixxel is being valued at around $400 million pre-money during ongoing negotiations. This will be the company's largest funding round to date, with over $90 million raised from investors since its founding in 2019 by Awais Ahmed and Kshitij Khandelwal.
The funding round comes at a time when Pixxel is preparing for new launches, with the company partnering with AI startup Sarvam AI to launch the 200 kg-class Pathfinder satellite. Scheduled for launch as early as Q4 2026, the satellite will host data-centre-grade GPUs to run Indian-governed language models and process hyperspectral imagery directly in Low Earth Orbit (LEO). The partnership aims to prove that sovereign AI workloads can run directly in orbit.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Investor Takeaway
Investors should consider the growing interest in space tech startups like Pixxel.
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