Satellite communications startup Northwood Space has raised $375 million in Series C funding, reaching a $2 billion valuation.
The round supports the company's ongoing development of ground antennas and software systems.
The funding round was co-led by venture capital firms Andreessen Horowitz and DFJ Growth. The company, founded in 2022 and co-founded and led by former actress Brigitte Mendler, followed a $100 million funding round in January, which was combined with a roughly $50 million contract with the U.S. Space Force.
Where will the new funds be used?
The new funds, combined with an additional financial agreement signed with HSBC bank, will be used to expand the company's activities, hire new staff and implement its contracts.
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