Satellite Startup Astranis Lands $90M

Satellite startup Astranis raised $90 million in a new round of funding led by Venrock, the company announced Wednesday.

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The company, which was founded in 2015, wants to bring low-cost internet access to remote parts of the world through satellites. Astranis is building a satellite that is 20 times smaller than other satellites and includes “flexible, ultra-wideband software-defined radio technology.”

“We know that increasing internet access can change lives for the better, especially for people living in developing countries and the world’s most remote locations,” CEO John Gedmark said in a statement. “By connecting those who need connectivity the most, we’re encouraging health, learning, and entrepreneurship across the world.”

The new round of financing includes participation from Andreessen Horowitz, which led the company’s $13.5 million Series A round in March 2018. Astranis now has more than $108 million in funding, with other investors including Refactor Capital and Y Combinator. Matt Bellamy, lead singer of the rock band Muse, also participated in a seed round, according to Crunchbase.

According to a statement from the company, Astranis is in talks to start new projects around the world by partnering with internet service providers, governments and established satellite operators.

“Global connectivity is an industry prime for disruption,” Venrock partner Ethan Batraski said in a statement. “Astranis’s team and microsatellite technology put them in a strong position to fulfill the needs of the new market, which is vastly different than the market of 20 or 30 years ago.”

Illustration Credit: Li-Anne Dias

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