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Total amount raised
$750M
Latest funding date
2024-07-24
Location
Astranis has successfully raised funds over 9 rounds, with the latest being a Series D round led by Andreessen Horowitz and BAM Elevate. The company is backed by a total of 55 investors, including notable names like PWV/RedwoodJS and Uncorrelated Ventures.
Keep reading to explore the intricacies of Astranis' fundraising journey and the investors backing this innovative satellite company.
Astranis has raised a total of approximately $750 million in funding across multiple rounds, backed by prominent investors including Andreessen Horowitz, BlackRock, BAM Elevate, Venrock, and Fidelity.
Keep reading to explore Astranis's complete fundraising journey.
What Is Astranis?
Astranis is a San Francisco-based space technology company founded in 2015 that designs and manufactures small, low-cost geostationary (GEO) communications satellites. Its MicroGEO satellites provide dedicated broadband connectivity to underserved regions globally. Astranis participated in Y Combinator's Winter 2016 cohort and is led by co-founder and CEO John Gedmark.
How Much Funding Has Astranis Raised?
- Pre-Seed / Seed (Y Combinator)
- Amount Raised: USD 120,000
- Date: January 2016
- Lead Investors: Y Combinator
- Seed
- Amount Raised: Undisclosed
- Date: April 2016
- Lead Investors: Refactor Capital
- Series A
- Amount Raised: USD 13,500,000
- Date: March 1, 2018
- Lead Investors: Andreessen Horowitz
- Participants: Y Combinator, Fifty Years, Refactor Capital, Indicator Fund
- Series B (Equity)
- Amount Raised: USD 40,000,000
- Date: February 13, 2020
- Lead Investors: Venrock
- Participants: Andreessen Horowitz, Y Combinator, Fifty Years, Refactor Capital
- Debt Financing (Series B)
- Amount Raised: USD 50,000,000
- Date: February 13, 2020
- Lead Investors: TriplePoint Capital
- Series C
- Amount Raised: USD 250,000,000
- Date: April 14, 2021
- Lead Investors: BlackRock
- Participants: Baillie Gifford, Fidelity, Koch Strategic Platforms, Monashee Investment Management, Uncorrelated Ventures, Andreessen Horowitz, Venrock, and more than a dozen existing investors
- Valuation: USD 1.4 billion (post-money)
- Equity + Debt Round
- Amount Raised: USD 200,000,000 (combined equity and debt)
- Date: April 2023
- Lead Investors: Andreessen Horowitz (a16z Growth Fund)
- Valuation: USD 1.6 billion (post-money)
- Series D
- Amount Raised: USD 200,000,000
- Date: July 24, 2024
- Lead Investors: Andreessen Horowitz (a16z Growth Fund), BAM Elevate (co-lead)
- Participants: BlackRock, Fidelity, Baillie Gifford, Y Combinator, Haystack, Metaplanet, Garage Capital, SV Angel, Refactor Capital, Trinity Capital, Jeff Dean
- Valuation: USD 1.6 billion (post-money)
Total Amount Raised: At least $753.6M based on disclosed funding rounds (Astranis reports approximately $750M raised as of July 2024).
Key Investors
- Andreessen Horowitz (a16z)
- Details: Lead investor in the Series A (2018), co-lead in the April 2023 equity and debt round, and co-lead in the Series D (2024). Notable as a16z's first-ever space industry investment.
- BAM Elevate
- Details: Co-lead investor in the Series D (2024). A growth-stage investor backed by Balyasny Asset Management.
- BlackRock
- Details: Lead investor in the Series C (2021) and participant in the Series D (2024). One of the world's largest asset managers backing Astranis's long-term satellite strategy.
- Venrock
- Details: Lead investor in the Series B equity round (2020), with Ethan Batraski joining the Astranis board.
- TriplePoint Capital
- Details: Provided a USD 50 million debt facility as part of the February 2020 financing.
- Fidelity & Baillie Gifford
- Details: Both participated in the 2021 Series C and the 2024 Series D, reflecting sustained institutional confidence in Astranis.
- Y Combinator
- Details: Early backer since the 2016 seed stage (Winter 2016 cohort) and continued participant through Series D.
What's Next for Astranis?
Astranis is deploying its next-generation Omega broadband satellite program, with the first launch targeted for 2026. The company's Series D financing of $200 million fully funds the Omega development program. With roughly $750 million raised to date and backing from top-tier institutional investors, Astranis aims to expand global broadband connectivity via its compact MicroGEO satellites and is reportedly exploring a new fundraise valued above $2 billion as it targets defense and commercial markets.
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