Northwood Space Raises $375M Series C at $2B Valuation

What happened

Today, Northwood announced the closing of $375M Series C, valuing the company at $2B, and bringing its total capital raised to $500M+.

Alongside the round, Northwood also secured a separate multi-year credit facility from HSBC Innovation Banking of undisclosed value. The Series C comes less than nine months after Northwood closed a $100M Series B , which has already funded significant expansion.

In January, the company announced a three-year $49.8M contract with the Space Force to support the military’s Satellite Control Network, and Northwood has been delivering ground links from satellites in GEO under this contract.

In June, Northwood unveiled Prism , a new parabolic dish designed for multi-gigabit links, and laid out a plan to grow its network to rival terrestrial Internet peering exchanges. In August, the company opened a 185,000 sq.

Northwood Space is attempting to build the world’s largest ground-station network, and now it has a massive pool of capital to fund its buildout. a16z and DFJ Growth co-led the round, which included additional participation from Alpine Space Ventures, Washington Harbour Partners, Stepstone Activate, In-Q-Tel and others.

facility in Torrance, CA to support an increased production capacity for hundreds of ground antennas—across two product lines—per year. In a recent test, Northwood arrayed 10 of its Portal ground antennas to achieve the same performance of a 20-foot dish.