Northwood Space has raised $375 million in a Series C round that values the space infrastructure company at $2 billion. The financing was co-led by Andreessen Horowitz and DFJ Growth, according to the startup’s announcement on Monday.
Founded in 2022, Northwood develops antennas, software and other technologies designed to improve communication between satellites and Earth. Bridgit Mendler, the company’s co-founder and former actress, serves as its chief executive officer.
The new financing follows a $100 million Series B announced in January, which was also co-led by Andreessen Horowitz. Northwood has additionally secured an agreement worth nearly $50 million with the U.S. Space Force to upgrade the nation’s satellite control network.
Alongside the equity financing, the company said it reached a financial agreement with HSBC. Northwood plans to use the combined funding to scale its operations, hire employees and fulfill existing contracts.
Sources: TechCrunch.