Satellite manufacturer Astranis has raised $300 million in a new Series E funding round and secured up to $155 million in a credit facility to accelerate satellite production for its commercial customers and U.S. government programs.
Snowpoint Ventures and Franklin Templeton co-led the funding round, with participation from Andreessen Horowitz, funds and accounts managed by affiliates of BlackRock, Baillie Gifford, and Fidelity Management & Research Company, as well as BAM Elevate, Nimble Partners, and Friends & Family Capital, along with other existing and new investors. In addition, Trinity Capital provided a delayed-draw credit facility up to $155 million of additional capital.
This brings the company’s total raised to more than $1.2 billion.
Astranis, based in San Francisco, builds smaller Geostationary Orbit (GEO) satellites known as MicroGEO in various models. The company has secured orders for two sovereign communication GEO satellites in the past year from Taiwan’s Chunghwa Telecom and Oman’s MB Group. The company has also made inroads in the government business, and has been selected as a prime contract on three U.S. government programs of record — Protected Tactical Satcom-Global (PTS-G), Resilient GPS, and Andromeda.
Astranis reports rising demand for dedicated GEO satellites that give customers a controlled network.
“The world is more contested and volatile than it once was. Sovereign, secure communications infrastructure is more critical than ever,” said John Gedmark, CEO and co-founder of Astranis. “We built Astranis to deliver satellites at speed and at scale. This capital accelerates our ability to meet demand from our commercial customer base around the world, and importantly we are now spooling up to support multiple US Government programs of record simultaneously.”
