Astranis, a San Francisco, CA-based geostationary satellite maker, raised $200m in Series D funding.
The round was led by a16z and BAM Elevate, with participation from Blackrock, Fidelity and Baillie Gifford also participating. This brought the total capital raised to $750m.
The company intends to use the funds to expand its development efforts, with plans to launch 100 MicroGEO satellites by 2030.
Led by John Gedmark, Co-founder and CEO, Astranis is building small, low-cost telecommunications satellites to connect people on Earth who currently do not have access to the internet. By owning and operating its satellites and offering them to customers as a turnkey solution, the company is able to provide bandwidth-as-a-service in previously unreachable markets at a lower costs compared to legacy providers.
Astranis serves local telecoms in countries such as the United States, the Philippines, and Mexico.
FinSMEs
29/07/2024