Northwood Space closed a $375 million Series C to expand its shared satellite ground network and increase antenna production from 29 units over the past year to hundreds annually. Andreessen Horowitz and DFJ Growth co-led the round, announced November 2.
Northwood runs shared ground stations that satellite operators book to send commands and retrieve data. It makes its own antennas and also sells the hardware directly to selected customers.
Its two antenna designs handle different jobs: Portal can communicate with six satellites for command and control, while Prism connects to one satellite at a time for high-volume data transfers, according to Via Satellite. Northwood introduced Prism in June.
Northwood reports six deployed sites across two continents. In September, it opened a 185,000-square-foot headquarters and factory in Torrance, California, designed to support the planned production increase.
Via Satellite reported a $2 billion valuation for the Series C. Northwood also secured a separate multiyear credit facility from HSBC Innovation Banking for working capital and network expansion; its size was not disclosed.
The new equity round follows a $100 million Series B announced in January, when Northwood also disclosed a $49.8 million Space Force contract. That contract supports the Satellite Control Network, which tracks and commands military satellites.