Northwood Space raises $375M Series C at a $2B valuation from a16z and DFJ growth | TechCrunch
Funding and valuation
Northwood Space announced Monday that it secured $375 million in a Series C financing round. Andreessen Horowitz and DFJ Growth co-led the investment, which values the company at $2 billion.
The startup said a financial agreement with HSBC will complement the funding. Together, the resources are intended to help Northwood scale, hire staff and meet existing contract commitments.
Satellite communications work
Founded in 2022, Northwood develops antennas, software and related technologies aimed at improving how satellites communicate with Earth. Its work focuses on space infrastructure. Bridgit Mendler, a company co-founder and former actress, is Northwood’s CEO.
Earlier funding and contract
Northwood’s previous financing was a $100 million Series B raised in January, also co-led by Andreessen Horowitz. The company also had a nearly $50 million contract with the U.S. Space Force. That contract is for upgrading the nation’s satellite control network, according to earlier TechCrunch reporting.
Key points
- Northwood raised $375 million in a Series C co-led by Andreessen Horowitz and DFJ Growth.
- The financing puts the company’s valuation at $2 billion.
- Northwood builds technology to improve satellite communications with Earth.
- The company plans to use the funding and HSBC agreement to scale, hire and fulfill contracts.