Andreessen Horowitz and DFJ Growth co-led Northwood’s $375 million Series C, with participation from Washington Harbour Partners, Alpine Space Ventures, Step Stone, In‑Q‑Tel, and others. HSBC Innovation Banking provided a multi‑year credit facility for working capital and network expansion. The round underscores the firm’s belief that ground infrastructure is the new bottleneck in space, as active satellites surged from 3,000 in 2020 to over 14,000 by 2025.
Northwood operates a shared ground‑station network, designing modular antennas—Portal phased arrays for command/control and Prism dishes for high‑throughput data. The company, founded in early 2024, has deployed six multi‑orbit sites, secured a $49.8M U.S. Space Force contract, and opened a 185,000 sq ft headquarters/factory in Torrance, CA. The new capital will fund existing contracts, hiring, and network buildout, with plans to add 400 jobs and target sites delivering >100 Gbps by 2027.
Source: PE Insights · Summarized by HeadlinesBriefing