Deepinder Goyal, founder‑former CEO of Eternal (earlier Zomato), has decided not to invest about $25–30 million (roughly ₹240–290 crore) in Bengaluru‑based space‑tech startup Pixxel, according to reports. The move comes as Pixxel is pushing ahead with an upsized funding round that could reach up to around $80–100 million, with sovereign investor GIC set to deepen its existing bet.
Pixxel, which builds high‑resolution hyperspectral satellite constellations, is being valued at roughly $400 million in pre‑money terms during the current round. Earlier, the firm had raised a total of about $95 million across all rounds, including previous Series B tranches backed by investors such as Google, Radical Ventures, and Lightspeed. The fresh capital is aimed at speeding up the launch and operation of its Firefly‑style satellite constellation and related data services.
Goyal, who was closely linked with the discussions while still CEO of Eternal, has since stepped down from that role and is now concentrating on personal ventures such as LAT Aerospace, Temple, and Continue. His decision to opt out does not appear to have stalled Pixxel’s fundraising, which continues with other marquee backers, highlighting ongoing investor confidence in India’s space‑tech ecosystem.
FAQs [Frequently Asked Questions]
1. Why did Deepinder Goyal not invest in Pixxel?
Deepinder Goyal chose not to invest about $25–30 million in Pixxel to focus on his own ventures such as LAT Aerospace, Temple, and Continue, instead of joining the space‑tech startup’s latest funding round.
2. How much funding is Pixxel planning to raise?
Pixxel is aiming to close an expanded round of around $80–100 million, with an estimated pre‑money valuation of about $400 million, even after Goyal’s decision to step out.
3. What kind of work does Pixxel do?
Pixxel builds a high‑resolution hyperspectral satellite constellation to provide detailed Earth‑observation data for agriculture, mining, environment, and disaster monitoring, and has raised about $95 million so far.