Northwood Space has secured $375 million in a Series C funding round, bringing the company valuation to $2 billion. The total capital raised by the startup now exceeds $500 million. The round was co-led by a16z and DFJ Growth, with participation from Alpine Space Ventures, Washington Harbour Partners, Stepstone Activate, and In-Q-Tel.
The company also obtained a multi-year credit facility from HSBC Innovation Banking, though the specific amount remains undisclosed. This capital will be utilized to expand the team and deploy additional ground station antennas globally. CEO Bridgit Mendler stated that the company aims to surpass the scale of existing ground networks, which currently consist of hundreds of sites.
Northwood Space focuses on building a modular ground-station network. Its hardware is designed to fit into standard freight containers, allowing for rapid deployment in a matter of hours. The company claims its technology can achieve the performance of a 20-foot dish using an array of 10 Portal antennas, offering a smaller physical footprint and faster setup times compared to industry standards.
The startup provides an API to support satellite links, enabling operators to reserve capacity. The goal is to standardize the network stack for ground stations to facilitate shared infrastructure for commercial and defense users. This latest funding round follows a $100 million Series B raise completed less than nine months ago.
