SAN FRANCISCO, Feb. 13, 2020 (Astranis PR) — Astranis, the company building the next generation of telecommunication satellites, today announced a $90 million financing round to launch its first commercial satellite and build the foundation for the internet infrastructure of the future. The round was led by Venrock, with significant participation from existing investor Andreessen Horowitz.
Astranis aims to solve a problem in the modern space race that hasn’t been cracked: bringing the next four billion people online with low-cost, reliable internet. The $120 billion market is growing quickly – demand for internet is rising 40% per year, every year – but until now, there has been no practical, cost-effective solution for bringing internet access to remote parts of the world. Astranis is singularly focused on solving this problem.
“Global connectivity is an industry prime for disruption,” said Ethan Batraski, partner at Venrock. “Astranis’s team and microsatellite technology put them in a strong position to fulfill the needs of the new market, which is vastly different than the market of 20 or 30 years ago.”
Astranis is building a first-of-its-kind micro-geostationary orbit (GEO) satellite that is 20 times smaller in size than that of its predecessors – just 350 kg ...