Astranis raises $90 million for its next-gen satellite broadband internet service – TechCrunch
YC-backed Astranis has raised $90 million of new combined debt and equity funding in a Series B round led Venrock, with a sizeable contribution by existing investor (and lead of their 2018 round) Andreessen Horowitz.
The geostationary model that Astranis is embracing is somewhat more similar to the existing way of offering internet connectivity from space, which employs very large communications satellite parked in geostationary orbit fairly far away from Earth.
These not only save a tone of space, but can be built and launched with a turnaround time of just months, compared to many years for the large, geostationary telecommunications spacecraft of yore.
As mentioned, this is a combined debt and equity round, including $40 million of equity funding with participating by Y Combinator and others in addition to Venrock and Andreessen.
The company has raised $108 million to date, but has deep-pocketed competitors eyeing the same opportunity with different technologies, including SpaceX’s Starlink and Amazon’s Kuiper.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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