CesiumAstro said it closed $730 million in financing to help build and operate its own satellite communications network, after launching its first satellite in October. The November 5 announcement valued the company at more than $4.5 billion.
The Austin-area company supplies spacecraft and communications equipment. Its planned Synchronicity network would comprise 737 satellites serving businesses, governments and defense users, with processors intended to handle data in orbit, according to the announcement.
Janus Henderson led the equity round. Payload reported that the package consists of $630 million in equity and a $100 million debt facility from the Export-Import Bank of the United States and JPMorgan.
CesiumAstro applied to the Federal Communications Commission for the network on July 6, Via Satellite reported. Founder and CEO Shey Sabripour told Payload he aims for 350 satellites in orbit by 2032, with the required launch partnerships still being worked out.