US-based radio-frequency data satellite developer HawkEye 360 received $70m on Tuesday in a series B round that included aerospace manufacturer Airbus and mapping software developer Esri.
Razor’s Edge Ventures, Allied Minds and Shield Capital Partners also took part in the round, as did undisclosed additional investors.
HawkEye 360 is developing satellites designed to collect and analyse information using radio frequency (RF) signals and geospatial technology. It has also built an RF signal mapping product, RFGeo, to identify and geolocate radio channels and emergency distress beacons, and to track logistics.
Having launched its first cluster of three satellites in 2018, the company will put the series B proceeds toward developing and launching four additional clusters, with the second expected to launch early next year.
HawkEye 360 closed an series A-3 round at $14.9m in September 2018 with a $5.3m extension led by defence systems producer Raytheon and backed by Sumitomo Corporation of Americas, a subsidiary of diversified conglomerate Sumitomo, as well as Space Angels, Razor’s Edge Ventures, Shield Capital and Allied Minds.
The latter three also contributed to the round’s $9.6m first tranche the month before, alongside an undisclosed aerospace and defence firm. Razor’s Edge led an $11m series A round for the company in 2016 that included Allied Minds and an unnamed member of the defence industry that could have been Raytheon.