Key Takeaways
- • Northwood Space, the company building the network connecting satellites to Earth, closed a $375 million Series C equity financing round.
- • Andreessen Horowitz (a16z) and DFJ Growth co-led the round, with participation from Alpine Space Ventures, Washington Harbour Partners, Stepstone Activate, and In-Q-Tel (IQT).
- • Proceeds will accelerate delivery on existing contracts, fund talent acquisition, and build out Northwood's global ground network serving commercial, U.S. government, and allied space missions.
- • A separate multi-year credit facility from HSBC Innovation Banking will support working capital and network expansion.
Summary
Northwood Space, based in Torrance, California, announced it has closed a $375 million Series C equity financing round, according to the company's announcement. The company describes itself as building the network that connects satellites to Earth.
Andreessen Horowitz (a16z) and DFJ Growth co-led the round. Other participants include Alpine Space Ventures, Washington Harbour Partners, Stepstone Activate, and In-Q-Tel (IQT), the investment arm associated with U.S. intelligence community. The announcement noted that additional investors also took part in the round.
The company said the capital will be deployed across three areas: accelerating delivery on existing contracts, expanding its talent base, and building out its global ground network. That network is intended to serve commercial customers, U.S. government agencies, and allied space missions.
Separately, a multi-year credit facility from HSBC Innovation Banking will support working capital needs and network expansion. The primary source does not disclose the size of the credit facility, the post-money valuation, or specific revenue and contract figures.
Andreessen Horowitz (a16z) and DFJ Growth co-led the round. Other participants include Alpine Space Ventures, Washington Harbour Partners, Stepstone Activate, and In-Q-Tel (IQT), the investment arm associated with U.S. intelligence community. The announcement noted that additional investors also took part in the round.
The company said the capital will be deployed across three areas: accelerating delivery on existing contracts, expanding its talent base, and building out its global ground network. That network is intended to serve commercial customers, U.S. government agencies, and allied space missions.
Separately, a multi-year credit facility from HSBC Innovation Banking will support working capital needs and network expansion. The primary source does not disclose the size of the credit facility, the post-money valuation, or specific revenue and contract figures.
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