Northwood Space, a company developing infrastructure for satellite communications, has raised $375 million in a Series C funding round that values the business at $2 billion. The investment was co-led by Andreessen Horowitz and DFJ Growth, reflecting growing interest in the commercial space infrastructure market.

Founded in 2022, Northwood develops antennas, software and other technologies designed to improve communication between satellites and ground-based systems. Its services are intended to support the growing number of satellites being deployed for communications, navigation and other applications.

The company previously raised $100 million in a Series B funding round in January. It has also secured a contract worth nearly $50 million with the U.S. Space Force to help modernize the country’s satellite control network.

Northwood plans to use the new funding to expand its operations, recruit additional employees and fulfill existing contracts. The company also has a financial agreement with HSBC to support its expansion plans.

The investment highlights the growing commercial importance of satellite infrastructure as governments and businesses increasingly depend on space-based communication systems. Northwood’s long-term growth will depend on its ability to deliver reliable technology and secure additional contracts in a competitive industry.

Source: TechCrunch