Northwood Space raises $375 million at a $2 billion valuation — TechCrunch

Space infrastructure company Northwood Space has raised $375 million in a Series C funding round at a $2 billion valuation. The round was co-led by Andreessen Horowitz and DFJ Growth, TechCrunch reports.

Infrastructure for satellite communications

Northwood Space was founded in 2022. The company develops antennas, software and other technologies to improve communication between satellites and Earth. The startup's CEO is co-founder Bridgit Mendler, who was previously an actress.

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Previous funding and contracts

In January, Northwood Space raised $100 million in a Series B round, which was also co-led by Andreessen Horowitz. TechCrunch had previously reported on a contract worth nearly $50 million with the U.S. Space Force to modernize the country's satellite control network.

The company also has a financing agreement with HSBC. According to the startup, the funds from the round and this arrangement will be directed toward scaling the business, hiring employees and fulfilling existing contracts.