Astranis’ $250M Funding Round with BlackRock, Sheetz, and CNBC
Astranis, a San Francisco-based space technology company, recently announced a $250M funding round led by BlackRock, the world’s largest asset management firm, with participation from Sheetz Family Office, CNBC, and others. This funding marks a significant milestone for the company, which is poised to expand its satellite constellation and provide internet connectivity to the world’s underserved areas. In this article, we’ll take a closer look at Astranis’ mission, technology, and the implications of this latest funding round.
Astranis was founded in 2015 with the mission to connect the world to the internet. The company’s satellite technology aims to provide internet connectivity to remote and rural areas that are currently underserved or not served at all. According to the company’s website, 3.9 billion people are still without access to the internet, and Astranis believes that satellites are the key to bridging this digital divide.
Astranis’ satellite technology is designed to be small, affordable, and quick to launch. The company’s satellites are about the size of a mini-fridge, which is significantly smaller than traditional geostationary satellites. This smaller size allows for a quicker manufacturing process and lower launch costs. Additionally, Astranis’ satellites are designed to operate in a lower orbit, which means they can provide internet connectivity with lower latency than traditional satellites.
Astranis’ Current Progress:
Astranis has already launched one satellite into orbit, which is currently providing internet connectivity to Alaska through a partnership with Pacific Dataport Inc. The company is now working on building its second satellite, which will provide internet connectivity to a larger area. With the recent funding round, Astranis plans to expand its satellite constellation and launch additional satellites over the next few years.
Implications of the Funding Round:
The $250M funding round is a significant boost for Astranis’ expansion plans. BlackRock’s investment is particularly noteworthy, as the company manages over $9 trillion in assets and is known for investing in large-scale projects with long-term potential. The participation of Sheetz Family Office and CNBC also adds credibility to Astranis’ mission and technology. The funding will allow Astranis to accelerate its satellite manufacturing and launch schedule, which could have significant implications for the future of internet connectivity.
Astranis’ mission to connect the world to the internet is an ambitious one, but the company’s innovative satellite technology and recent funding round make it seem more achievable than ever. The company’s small, affordable satellites could revolutionize the way we think about satellite connectivity and have a significant impact on the digital divide. As Astranis continues to expand its satellite constellation and provide internet connectivity to underserved areas, it will be exciting to see the positive impact it has on the world.