Esri helped Allied Minds' satellite constellation operator take its total funding to $155m in a round that will fund the launch of more satellites.
HawkEye 360, a US-based satellite operator providing radio frequency (RF) data and analytics services based on research at Virginia Tech, has received $55m in a series C round led by venture capital firm NightDragon.
Mapping software provider Esri International, family office Advance, Razor’s Edge Ventures, Shield Capital Partners, Dorilton Ventures and Adage Capital participated in the round.
Founded by commercialisation firm Allied Minds in 2015, HawkEye 360 provides space-based RF data and analytics services through a network of commercial satellites, for purposes such as national security operations and environmental protection.
The funding will support the launch of three additional satellite clusters by the end of 2022 as well as development of software, communication systems and ground infrastructure that will support the company’s operations.
The series C round increased HawkEye 360’s total funding to $155m, it said. Family office Advance supplied $15m to close its series B round at $85m in November 2019 having paid $65.6m for a 58% stake through a secondary deal two months earlier.
The company raised $70m for the first tranche of its series B round the month before, from investors including Allied Minds, aerospace manufacturer Airbus, Esri, Razor’s Edge Ventures, Shield Capital and undisclosed others.
HawkEye 360’s earlier capital was supplied by investors including Allied Minds, defence technology producer Raytheon, diversified conglomerate Sumitomo’s US subsidiary, Sumitomo Corporation of Americas, Space Angels, Razor’s Edge Ventures and Shield Capital.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
