Northwood Space raises $375M Series C, hits $2B valuation
What's the deal? Northwood Space has closed a $375 million Series C, lifting its valuation to $2 billion. The round was co-led by Andreessen Horowitz and DFJ Growth.
What does it do? The startup builds a shared ground network — the infrastructure that connects satellites to Earth — for commercial and government customers. It says it has deployed six multi-orbit sites across two continents and expanded its manufacturing footprint.
What's the money for? Northwood will use the funding to speed delivery on existing contracts and build out its global ground network.
Why now? The raise comes just two and a half years after Northwood started, and less than nine months after its Series B. Investors are backing a rapid buildout as demand for satellite connectivity grows.
By the numbers: The $375 million round sits in the 97th percentile among all-time US Series C deals in space, out of a sample of 102.
What could go wrong? The key measure of progress will be how quickly Northwood converts its network and contracts into operating capacity and recurring revenue.
The signal: The round is less a bet on a new satellite constellation than on the often-overlooked ground infrastructure needed to reach orbit — a sign investors see value in the plumbing behind commercial and government space connectivity.
Read more: insidedefense.com
Image credit: Northwood Space
