Hawkeye enters $11m series A orbit

Hawkeye 360, a radio frequency mapping and analytics technology developer based on research conducted at Virginia Polytechnic Institute and State University (Virginia Tech), has raised $11m in series A capital.

The round was led by VC firm Razor’s Edge Ventures, with participation from commercialisation firm Allied Minds and an unnamed defence industry entity. Hawkeye expects to raise an additional $2.75m for the round within the next two months.

Founded in September 2015, Hawkeye 360 is developing small, low-Earth orbit (Leo) satellites that collect data, perform analytics and generate reports on wireless signals in order to track ships, planes and other vehicles across sea, air and land.

The technology has applications in emergency responses, monitoring of safe transport networks and can help telecoms firms understand spectrum deployment and interference.

The money will go towards the completion of development and manufacturing of the company’s Pathfinder Cluster, three small satellites that are scheduled to be launched in late 2017. The cash will also drive recruitment across the engineering and business development teams.

Concurrently, Hawkeye has announced the appointment of John Serafini as its chief executive. He previously served as senior vice-president at Allied Mind and was responsible for the formation of Hawkeye 360.

Hawkeye’s technology exploits research into radio frequency signal processing conducted by Charles Clancy and Bob McGwier at Virginia Tech’s Hume Center for National Security and Technology.

Serafini said: “The successful completion of this financing round is a testament to Hawkeye 360’s innovative and forward-looking team and syndicate of investors, who recognise the opportunities in the fast-growing Leo satellite and related big data markets.

“I am excited to join this visionary group full time, and be part of what I believe will be a new era in space-based technologies and capabilities.”