The Northwood Space Series C round raised $375 million, valuing the satellite infrastructure startup at $2 billion. Andreessen Horowitz (a16z) and DFJ Growth co-led the financing, announced Monday, Nov. 2.
Founded in 2022, Northwood Space develops antennas, software and ground infrastructure that connect satellites with Earth. Co-founder and CEO Bridgit Mendler previously worked as an actress.
Northwood raised $100 million in a Series B round in January, also backed by a16z. It also secured a nearly $50 million U.S. Space Force contract to upgrade the military’s Satellite Control Network.
Northwood Space Series C Supports Network Expansion
The latest round included Washington Harbour Partners, Alpine Space Ventures, StepStone and In-Q-Tel. Northwood also secured a separate multiyear credit facility from HSBC Innovation Banking to support its operations.
The financing will support network expansion, manufacturing, recruitment and existing contracts. Since January, Northwood has deployed six ground network sites across two continents. It also opened a 185,000-square-foot headquarters and manufacturing facility in Torrance, California.
Northwood’s modular antenna systems allow satellite operators to transmit data and manage spacecraft without building dedicated ground stations. Its shared network serves commercial satellite companies and government customers, including U.S. defense agencies.
The company employs more than 140 people. It plans to add approximately 400 jobs in Torrance and Washington, D.C., over the next three years.
