Space infrastructure startup Northwood Space said it has raised $375 million in a Series C round co-led by Andreessen Horowitz and DFJ Growth, a deal that values the company at $2 billion.
Founded in 2022, Northwood builds antennas, software and other technologies designed to help satellites communicate with Earth. Bridgit Mendler, a co-founder and former actress, serves as chief executive.
Northwood last raised a $100 million Series B in January, also co-led by Andreessen Horowitz, and TechCrunch previously reported a nearly $50 million contract with the US Space Force to upgrade the nation's "satellite control network."
Northwood said the latest round also includes a financial agreement with HSBC that, together with the funding, will be used to scale the company, hire staff and fulfill existing contracts.
Analysis
Why This Matters
- The funding values a two-year-old space infrastructure company at $2 billion, signaling strong investor appetite for satellite ground communications technology.
- Northwood plans to use the capital to scale, hire and meet existing contracts, including work for the US Space Force.
- The inclusion of a financial agreement with HSBC alongside the equity round adds a financing component beyond traditional venture capital.
Background
Northwood is part of a broader wave of startups building ground infrastructure for the growing number of satellites in orbit, a segment that has drawn significant private investment in recent years. The company was founded in 2022 and is led by Bridgit Mendler, who previously appeared in film and television.
What to Watch
- How quickly Northwood scales its operations and workforce using the new funding.
- Whether the company builds on its US Space Force contract with additional defense work.
- What role the HSBC financial agreement plays as the company expands and takes on more contracts.
Checked
10 claims in this story checked against 1 source: 10 supported.
Show each claim
- SupportedNorthwood Space says it raised $375 million in a Series C round at a $2 billion valuation.TechCrunch: “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.”
- SupportedAndreessen Horowitz and DFJ Growth co-led the round.TechCrunch: “a Series C round co-led by Andreessen Horowitz and DFJ Growth”
- SupportedNorthwood is a satellite communications startup.TechCrunch: “Northwood builds antennas, software, and other technologies that help satellites communicate better with Earth.”
- SupportedNorthwood Space said it raised the Series C round.TechCrunch: “Northwood Space on Monday said it had raised $375 million in a Series C round”
- SupportedNorthwood was founded in 2022.TechCrunch: “Founded in 2022, Northwood builds antennas”
- SupportedNorthwood builds antennas, software and other technologies designed to help satellites communicate with Earth.TechCrunch: “Northwood builds antennas, software, and other technologies that help satellites communicate better with Earth.”
- SupportedBridgit Mendler is a co-founder and former actress who serves as Northwood’s chief executive.TechCrunch: “Bridgit Mendler, co-founder and former actress, serves as its CEO.”
- SupportedNorthwood’s previous raise was a $100 million Series B in January, also co-led by Andreessen Horowitz.TechCrunch: “The company last raised a $100 million Series B in January, also co-led by Andreessen Horowitz”
- SupportedTechCrunch previously reported a nearly $50 million contract with the U.S. Space Force to upgrade the nation’s “satellite control network.”TechCrunch: “a nearly $50 million contract with the U.S. Space Force to upgrade the nation’s “satellite control network,” TechCrunch previously reported.”
- SupportedNorthwood said the latest round includes a financial agreement with HSBC, and that the agreement and funding will be used to scale the company, hire staff and fulfill existing contracts.TechCrunch: “This latest round also includes a financial agreement with HSBC that, along with the funding, will be used to scale the company, hire, and fulfill existing contracts, the startup said.”