Private Equity

Liquidity Events

GrowX Ventures exits partially from space-tech co. Pixxel with 17X return

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GrowX Ventures has made a partial exit from Bengaluru-based space-tech company Pixxel, generating a 17X multiple on its investment, and a 68% internal rate of return (IRR) over a 5.5-year holding period. This marks the first liquidity event for its Fund I.Co-founded in 2019 by Awais Ahmed and Kshitij Khandelwal, Pixxel is building a constellation of high-resolution hyperspectral earth imaging satellites and analytical tools to mine insights from the data.

Between May-19 and Dec-24, Pixxel had attracted about USD 105.77-M from Growx Ventures, Athera Venture Partners, Blume Ventures, Lightspeed Ventures, Omnivore Partners, Radical Ventures, Accenture Ventures, Glade Brook Capital, Google Impact and others.For FY24, Pixxel had reported about INR 28.69Cr in Operating Income and about INR 20.36 Cr in Net Loss.