GrowX Capital Exit from Pixxel Yields 17X Returns Amid Space Tech Booms

According to Inc42, GrowX Capital has partially exited Pixxel with 17x returns. The venture capital firm, known for backing early-stage startups, made an impressive partial exit from the space tech startup.

This achievement is a landmark for both Pixxel and GrowX as it reflects the growing interest in India’s space technology industry.

Pixxel’s Growth Attracts Global Attention

Founded in 2019, Indian space tech startup Pixxel has quickly gained recognition for building a network of Earth-imaging satellites. The company aims to provide high-resolution images and data to help monitor agriculture, climate change, and natural resources.

GrowX joined Pixxel’s journey back in 2019 by taking part in its $680K pre-seed round. Since then, it has invested ₹11 crore in the Google-backed space tech startup. A source said that the shares which were sold by GrowX were acquired by existing investors, namely Athera Venture Partners and Spartan Capital.

Pixxel’s innovations have caught the attention of global investors, government bodies, and strategic partners. The startup has also signed contracts with major organizations, including NASA, and launched its satellites aboard SpaceX rockets.

This strong growth has played an important role in making GrowX Capital’s exit from Pixxel highly rewarding.

Funding Boost Fuels Expansion

The company’s good results have been driven by continuous investor interest. In its latest Series B funding round, the space tech startup, Pixxel raised $36 million. The round was led by , while a few other investors also participated.

This investment will support Pixxel by increasing its number of satellites, enhancing its data analytics and broadening its global footprint. The last raise made it possible for GrowX and others to sell some of their shares and make a significant profit.

With these developments, Pixxel is now seen as one of the most promising startups in India’s space sector.

GrowX’s Big Win in Space Tech Investment

GrowX was among the first investors in Pixxel. It invested when the concept of private space companies in India was still growing. By investing in the founders early, GrowX took a calculated risk that is now reaping rewards.

GrowX’s 17x return from this exit reflects the growing potential of Indian deep-tech startups. It also shows the value of early investments in high-impact sectors like space technology.

Manu Rikhye, partner at GrowX Ventures Fund I and Merak Ventures said, “This partial exit allows us to return capital while continuing to stay meaningfully invested in Pixxel’s long-term growth.”

What GrowX’s Exit Means for Indian Space Tech

GrowX Capital’s exit from Pixxel is a prime instance of the benefits of investing early in innovative startups. With GrowX’s 17x return, this exit shows the increasing potential of India’s space tech industry. As Pixxel’s space tech funding continues to expand, this startup will be at the forefront of shaping the future of Earth observation globally.