Northwood Space has closed a $375 million Series C equity round co-led by Andreessen Horowitz and DFJ Growth. Axios reports that the financing values the company at $2 billion. Founded in 2022, Northwood builds modular antennas, software and a shared ground network that connect satellites with users on Earth; Bridgit Mendler is its co-founder and CEO. The company said the financing will accelerate existing contracts, hiring and expansion of its global network, while a separate multi-year credit facility from HSBC Innovation Banking will support working capital and network growth.
Why it matters
The financing gives Northwood additional capital to expand satellite ground infrastructure and deliver on existing commercial and government contracts. Its network addresses a key part of space systems: the hardware, software and sites needed to move data between spacecraft and Earth.
Key points
- Series C equity funding: $375 million
- Reported valuation: $2 billion
- Round co-led by Andreessen Horowitz and DFJ Growth
- Founded in 2022; Bridgit Mendler is co-founder and CEO
- Northwood says the funding will support existing contracts, hiring and network expansion; HSBC is providing a separate multi-year credit facility
Based on reporting by The original announcement and TechCrunch.
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