NorthStar Earth & Space Closes $35M Series C Funding Round
Canadian space startup NorthStar Earth & Space raised $35 million in its Series C funding round, the company announced Thursday. NorthStar is working to offer space-based space situational awareness (SSA) services and said this funding will accelerate its time to product launch.
Cartesian Capital Group led the round through Pangaea Three Acquisition Holdings III. The round also includes investment from Telesystem Space; the Luxembourg Future Fund; the government of Quebec through Investissement Quebec; and the Luxembourg Space Sector Development Fund, which is supported by SES and the Luxembourg government.
Cartesian partners Beth Michelson and Paul Pizzani will join NorthStar’s board of directors.
“Cartesian recognizes the transformational potential of NorthStar’s next generation services for the space economy,” Michelson said. “NorthStar’s unique approach to providing complete coverage of space is critical to safeguarding essential space infrastructure.”
NorthStar is using Spire’s space services to deploy its constellation of 24 satellites through the Spire space infrastructure. It aims to monitor all near-Earth orbits from space and to deliver object detection, tracking, orbit determination, collision avoidance, navigation, and proximity alerts to the satellite community.
NorthStar signed the Spire deal in March 2022 for the initial three satellites, with the option to scale the constellation. The first three satellites are set to launch on a Virgin Orbit mission planned for mid-2023.
“NorthStar is privileged to have the support of Cartesian to lead an international consortium of experienced and industry savvy investors,” said Stewart Bain, CEO of NorthStar. “The prestigious array of participants reflects the immense importance of NorthStar’s mission to preserve the space environment now and for future generations.”