Astranis raises $200 million
Posted: Sat, Jul 27, 2024, 12:23 PM ET (1623 GMT)
Astranis has raised $200 million to fully fund development of a new broadband satellite design. Venture capital firm Andreessen Horowitz co-led the Series D funding round with investment firm BAM Elevate, bringing the total raised by Astranis to $750 million. The company will use the funding to complete the development of Omega, a spacecraft slightly larger than its existing line of small GEO satellites but still small enough that 12 could fit on a single Falcon 9. The Omega satellites will have five times the throughput of its earlier satellites. Astranis has not disclosed any customers yet for Omega.
Astranis has raised $200 million to fully fund development of a new broadband satellite design. Venture capital firm Andreessen Horowitz co-led the Series D funding round with investment firm BAM Elevate, bringing the total raised by Astranis to $750 million. The company will use the funding to complete the development of Omega, a spacecraft slightly larger than its existing line of small GEO satellites but still small enough that 12 could fit on a single Falcon 9. The Omega satellites will have five times the throughput of its earlier satellites. Astranis has not disclosed any customers yet for Omega.
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