Pixxel Partners SIIS To Supply Hyperspectral Satellite Data In Korea

Spacetech startup Pixxel has inked a memorandum of understanding (MoU) with SIIS Co to supply hyperspectral satellite data in Korea.

SIIS aims to boost its market position by partnering with Pixxel to combine high-resolution spatial data with material insights provided by hyperspectral imaging.

SIIS’s CEO Kim Moon-Gyus said that this collaboration will expand the company’s offerings beyond optical and radar imagery to include hyperspectral data. 

“We are committed to broadening the scope of satellite data applications and providing valuable insights to the Earth observation solutions market,” Moon-Gyus added. 

SIIS is a company exporting satellite imaging systems in Korea. Its offerings include satellite imagery, a direct receiving system, and AI training data. 

The collaboration will allow the company to provide hyperspectral data to relevant institutions and companies in the country. To enhance its Earth observation capabilities, SIIS plans to launch SpaceEye-T, an ultra-high-resolution satellite, in March 2025. 

 “The company expects this integration will enable users to leverage the unique characteristics and strengths of different data types, meeting diverse analytical demands and expanding the applications of satellite data,” the statement stated. 

On the collaboration, Pixxel’s chief commercial officer, Aakash Parekh, said, “We are thrilled to partner with SIIS and could not think of a better way to enter the Korean market with our groundbreaking 5-meter hyperspectral dataset.” 

Pixxel’s founder and CEO Awais Ahmed said, ” This collaboration reinforces our commitment to building a health monitor for the planet and advancing Earth observation solutions globally.”

Meanwhile, Pixxel is preparing to launch its Fireflies constellation of six advanced hyperspectral satellites in early 2025. Through this, Pixxl will provide service to industries in areas like agriculture, climate tracking, and resource management with detailed global coverage.

Founded in 2018 by Ahmed and Kshitij Khandelwal, Pixxel is building a constellation of hyperspectral earth satellites to offer imaging services to clients in sectors such as agriculture, mining, and environment, among others.

Backed by the likes of Google, Radical Ventures, Accenture, Lightspeed, Blume Ventures and growX, Pixxel has raised around $97.98 Mn in funding to date. 

Last year, it completed a total raise a total of $60 (around INR 203.48 Cr) in its Series B funding round. The round saw participation from new investors, including M&G Catalyst and Glade Brook Capital Partners, who joined existing backers Google, Radical Ventures, Lightspeed and others in the cap table.