The company’s first commercial satellite.
Astranis, a San Francisco-based company with an alternative approach to providing internet access from satellites, secured new funding to ramp up production.
The company raised $250 million at a $1.4 billion valuation, Astranis CEO John Gedmark told CNBC, in a round led by BlackRock and joined by new investors Baillie Gifford, Fidelity, Koch Strategic Platforms, Monashee Investment Management and Uncorrelated Ventures.
More than a dozen existing investors, including Andreessen Horowitz and Venrock, also contributed. The new round brings Astranis’ total funding to more than $350 million since its founding in 2015.
“This is our growth round….