Northwood Space secures $375 million Series C at $2 billion valuation
Satellite ground network startup Northwood Space has raised $375 million in Series C funding at a $2 billion valuation to scale up antenna manufacturing and expand its global ground infrastructure.
Space infrastructure startup Northwood Space has raised $375 million in a Series C funding round that values the company at $2 billion, TechCrunch reported. The round was co-led by Andreessen Horowitz and DFJ Growth, with In-Q-Tel also participating.[4][1]
Led by chief executive officer Bridgit Mendler, Northwood builds ground stations designed to link orbiting satellites with terrestrial networks. Rather than deploying bespoke traditional dishes, the company manufactures phased-array antennas capable of connecting to multiple satellites simultaneously. Bloomberg and Quartz reported that the fresh capital will fund investments to keep pace with fast-expanding satellite networks and expand its global antenna footprint.[1][2][3]
Northwood was founded in February 2024 by Mendler, Griffin Cleverly, and Shaurya Luthra. The company has now raised more than $500 million in total funding, following a $100 million round closed less than nine months earlier. It currently operates six sites across two continents, runs a roughly 200,000-square-foot production facility in Torrance, and employs about 140 workers, up from an initial team of six. Northwood plans to add 400 jobs over the next three years as it accelerates antenna production.[1][3]
Key facts
- Northwood Space raised $375 million in a Series C funding round valuing the company at $2 billion.
- The funding round was co-led by Andreessen Horowitz and DFJ Growth, with participation from In-Q-Tel.
- Northwood has raised more than $500 million in total, including $100 million secured less than nine months prior.
- The company produces phased-array antennas in a roughly 200,000-square-foot facility in Torrance.
- Northwood plans to add 400 jobs over the next three years to expand its global antenna network.
- Northwood was founded in February 2024 by CEO Bridgit Mendler, Griffin Cleverly, and Shaurya Luthra.
- The company operates six sites across two continents and has grown from six employees at launch to approximately 140.
Sources · 4 sources
- AG
AGTP@AGTPinsightsPost on X ·
Northwood Space just raised a $375M Series C at a $2B valuation today. Here's what you need to know. The round was co-led by Andreessen Horowitz and DFJ Growth, with In-Q-Tel joining. Bloomberg and TechCrunch reported the news on Monday. Northwood builds ground stations that connect satellites to Earth. CEO Bridgit Mendler leads the company. The pitch is simple. Satellites are going into orbit faster than ground networks can keep up. Ground stations have been slow to build because each one is made bespoke. Northwood uses phased array antennas instead of traditional dishes, so one antenna can connect with multiple satellites at once. The money goes to speeding up antenna production and expanding the network. The company says it plans 400 new jobs. The growth has been fast. Northwood announced itself in February 2024 as a six-person team. It was founded by Mendler, Griffin Cleverly and Shaurya Luthra. Mendler says this year it announced and deployed two product lines across multiple continents, tripled headcount, and signed new customers while deepening work with existing ones. Investors point to big commercial and government customers. Backers also say the space segment is useless without ground networks, and that those networks aren't ready for what's coming. Key numbers: - $375M Series C - $2B valuation - $500M+ total raised - $100M raised less than nine months ago, in a round that didn't disclose a valuation - 6 sites on 2 continents - ~140 employees, up from 6 in early 2024 - ~200,000 sq ft production facility, with antennas built in Torrance - 400 new jobs planned Northwood now has over $500M raised to build out the ground side of the satellite boom.
Open source - BL
Bloomberg@businessPost on X ·
Northwood, a maker of critical ground infrastructure for satellites, raised $375 million for investments needed to keep pace with rapidly growing satellite networks https://t.co/8EmVNzyPZ6
Open source - QU
Quartz@qzPost on X ·
Northwood Space raised $375 million, reaching a $2 billion valuation: The satellite ground network company plans to add 400 jobs over three years and expand its global antenna network dlvr.it/TW8nnv https://t.co/5nBicZkyl5
Open source - TE
TechCrunch@TechCrunchPost on X ·
Space infrastructure company Northwood Space on Monday said it had raised $375 million in a Series C round co-led by Andreessen Horowitz and DFJ Growth, valuing the company at $2 billion. https://t.co/12aB54mGho
Open source