TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • Open RAN
  • Digital Platforms and Services
  • 5G
  • Access Evolution
  • Private Networks
  • Cloud Native
  • Edge
  • Open Networking
  • Sustainability
  • AI, Analytics and Automation
  • 6G Research and Innovation
  • Security
  • More Topics
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • |
  • About
  • Contact
  • |
  • Connect with us
  • 5G
  • 6G Research and Innovation
  • Access Evolution
  • AI, Analytics and Automation
  • Cloud Native
  • Digital Platforms and Services
  • Edge
  • Open Networking
  • Open RAN
  • Private Networks
  • Security
  • Sustainability
  • Connect with TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Access Evolution

Access Evolution

Astranis raises $250 million from top growth investors

Via BusinessWire

Apr 14, 2021

SAN FRANCISCO--(BUSINESS WIRE)--Astranis, the company building the next generation of telecommunication satellites, today announced a $250 million Series C financing round, valuing the company at $1.4 billion.

The financing was led by funds managed by BlackRock, with significant participation from new investors Baillie Gifford, Fidelity Management & Research Company LLC, Koch Strategic Platforms, Monashee Investment Management, and Uncorrelated Ventures. Existing investors Andreessen Horowitz, Venrock, Fifty Years, ACE Early Stage Partners, Harpoon Ventures, Indicator Fund, Industry Ventures, Jaan Tallinn, Jeff Dean, Jerry Yang’s AME Cloud, Jude Gomila, Refactor Capital, Rising Tide Fund, SOMA Capital, and others also participated in the round.

Astranis is solving one of the largest challenges facing the modern world: reducing the cost of internet access to get the next four billion people online.

The new funding will be used to significantly expand production of Astranis’s unique microsatellite platform, built to satisfy the significant global demand for affordable broadband. Additionally, Astranis will dramatically accelerate new technology research and development to support its next-generation platforms. That includes the company’s proprietary software-defined radio technology, which increases satellite performance and flexibility, and allows manufacturing at scale, lowering the price point to end-consumers.

Astranis’s satellites can be deployed at a low cost and be built in months, not years. That’s in contrast to traditional satellites that require hundreds of millions of dollars of capital and five or more years to get new capacity online. The smaller size of Astranis’s satellites — just 350 kg, or about 20 times less than traditional satellites — and their deployment into geostationary orbit (GEO) allows Astranis to start providing coverage with just a single MicroGEO satellite and bring capacity online quickly, focusing beams of broadband connectivity right where it’s needed.

“We are solving one of the biggest problems facing the world today,” said Astranis co-founder and CEO John Gedmark. “Four billion people do not have reliable access to broadband internet. Getting connectivity to those who need it the most changes lives in a profound way. It empowers people to take control of their health, education, and economic situation. We’re talking about something that is now absolutely part of the base of the hierarchy of needs.” Astranis has projects in work around the globe to deploy satellites to bring connectivity to some of the world’s most underserved areas.

BofA Securities, Inc. acted as sole placement agent on this transaction.

Related Topics
  • Access Evolution,
  • Global,
  • North America,
  • Satellite,
  • Telco & CSP,
  • Tracker

More Like This

Access Evolution

India to be second-largest fibre broadband market by 2030: Point Topic

Jun 30, 2022

Access Evolution

What’s up with… Cellnex and Deutsche Telekom, Virgin Media O2, Rakuten Symphony

Jun 30, 2022

5G

Virgin Media O2 accelerates industry’s largest rollout of small cells to deliver cleaner, greener and more flexible 5G network solutions

Jun 30, 2022

Access Evolution

Viasat's Mark Dankberg to Resume Chairman & CEO Roles

Jun 30, 2022

Access Evolution

Mavenir Supports Provision of National Public Warning Systems in Germany and the United Kingdom

Jun 30, 2022

This content extract was originally sourced from an external website (BusinessWire) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

10:14

Executive Interview: Vodafone’s Lucia De Miguel Albertos on the ultimate RAN Intelligent Controller

39:34

Figuring out the TCO of Open RAN

6:47

Dell's Role in Open RAN

4:24

Executive Interview: Neil McRae on BT's Open RAN Plans

TelecomTV
Company
  • About Us
  • Media Kit
  • Contact Us
Our Brands
  • DSP Leaders World Forum
  • Great Telco Debate
  • TelecomTV Events
Get In Touch
[email protected]
+44 (0) 207 448 1070
Connect With Us
  • Privacy
  • Cookies
  • Terms of Use
  • Legal Notices
  • Help

TelecomTV is produced by the team at Decisive Media.

© Decisive Media Limited 2022. All rights reserved. All brands and products are the trademarks of their respective holder(s).