Astranis has secured $450 million in new capital to expand production of spacecraft designed for geostationary orbit and other high orbits to support U.S. government programs of record.
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The San Francisco-based company said Wednesday the funding increases its total capital raised to more than $1.2 billion.
Who Are the Participating Investors?
The financing package includes a $300 million Series E funding round co-led by Snowpoint Ventures and Franklin Templeton, along with a delayed-draw credit facility from Trinity Capital worth up to $155 million.
Astranis said the Series E round included participation from Andreessen Horowitz, funds and accounts managed by affiliates of BlackRock, Baillie Gifford and Fidelity Management & Research Co.
BAM Elevate, Nimble Partners, Friends & Family Capital and other existing and new investors also participated in the funding round.
“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,” said John Gedmark, CEO and co-founder of Astranis.
How Will Astranis Use the Capital?
Astranis said it will use the funding to accelerate satellite production for commercial customers and support multiple U.S. government programs. The credit facility will also support manufacturing expansion and future growth initiatives.
The company has been tapped to support the initial phase of several Department of War programs of record as a prime contractor, including Protected Tactical Satcom-Global, Andromeda and Resilient GPS.
Astranis also cited increased demand from governments and enterprises seeking dedicated communications infrastructure and moving away from shared geostationary communications satellites.
The company recently announced satellite projects with Chunghwa Telecom in Taiwan and MB Group in Oman. Astranis said the satellites are scheduled to launch later this year.
What Is Astranis?
Astranis is a San Francisco-based aerospace company focused on building satellites for GEO and other high orbits for government, military and enterprise customers.
The company has about 500 employees and designs, manufactures and operates satellites through its 153,000-square-foot headquarters in Northern California. It currently has five satellites in orbit and a commercial contract backlog exceeding $1 billion.
