HawkEye 360, a US-based satellite operator providing radio frequency (RF) data and analytics services, received $55m yesterday in a series C round featuring mapping software provider Esri International.
Venture capital firm NightDragon led the round, with participation from family office Advance, Razor’s Edge Ventures, Shield Capital Partners, Dorilton Ventures and Adage Capital.
Founded by commercialisation firm Allied Minds in 2015 to commercialise research from Virginia Tech, 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 aerospace manufacturer Airbus, Esri, Allied Minds, Razor’s Edge Ventures, Shield Capital and undisclosed others.
Earlier HawkEye 360 investors include defence technology producer Raytheon, diversified conglomerate Sumitomo’s US subsidiary, Sumitomo Corporation of Americas, and Allied Minds, Space Angels, Razor’s Edge Ventures and Shield Capital.