Astranis Aims For The Stars With New $200M Round

Space startup Astranis raised a fresh $200 million round to build out its Omega satellite program.

The new round was co-led by Andreessen Horowitz and Bam Elevate, along with participation from the likes of Baillie Gifford, BlackRock and Fidelity.

Founded in 2015, Astranis has raised more than $750 million, per the company.

The San Francisco-based startup develops small broadband communications satellites for telecoms. The company plans to have more than 100 of its first-generation satellites operating in orbit by 2030.

Earlier this year it debuted its Omega satellites that will provide more bandwidth capacity.

While Astranis did not release a valuation number, the company raised a $200 million round in April 2023 at a $1.6 billion valuation, per a Bloomberg report. That deal was led by Andreessen Horowitz.

Space cash

Space startups have done well this year as satellite and communication companies continue to attract new investment.

So far in 2024, space-related startups have raised more than $3.7 billion, per Crunchbase data. Such startups raised about $5.9 billion through all of last year — putting this year’s venture funding ahead of that pace.

Of course, that is well off the highs of the previous two years, when space startups locked up $9.6 billion (2022) and $12.3 billion (2021). However, those years were a much different time, with venture capital hitting never-before-seen highs.