Astranis Raises $455M in Funding Led by Snowpoint Ventures

The funding round included a new $300 million Series E investment co-led by Snowpoint Ventures and Franklin Templeton, with participation from investors including Andreessen Horowitz, BlackRock affiliates, Baillie Gifford, Fidelity Management & Research Company, BAM Elevate, Nimble Partners, and Friends & Family Capital, along with other existing and new investors.

In comparison, a delayed-draw credit facility from Trinity Capital totaled $155 million to help expand manufacturing capacity and support future growth. The new funding increased the company’s total funding to more than $1.2 billion.

The company plans to use the funds to speed up satellite production for commercial customers and expand its capabilities to support major U.S. government programs as the United States Space Force prepares for a significant budget increase.

The funding comes as dedicated communications infrastructure becomes increasingly important for businesses and governments worldwide. Astranis is seeing strong demand from customers moving away from older shared GEO satellites toward dedicated satellite networks they can control directly. The company recently announced new satellite projects with Chunghwa Telecom in Taiwan and MB Group in Oman, with launches planned for later this year.

"GEO is the single most important orbit for national security, and that’s the orbit where we are seeing the largest need for new capability by Space Force. We’re excited to support Astranis as they scale and accelerate delivery for these important US government missions," said Alexander Creasey, General Partner at Snowpoint Ventures.

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"Astranis has an incredible track record of having actually flown full-capability satellites in higher orbits in a way that no other company has done. They are uniquely positioned to deliver a sovereign, secure communications infrastructure that the world needs. This investment reflects our conviction in both the opportunity and the team," said James Cross, Managing Director at Franklin Templeton.

"Astranis’s capacity to design, manufacture, and operate satellites for critical enterprise and national security needs makes them a leader in their field," said Ryan Little, Senior Managing Director at Trinity Capital. “We’re honored to support them as they scale.”

"The world is more contested and volatile than it once was. Sovereign, secure communications infrastructure is more critical than ever," said John Gedmark, CEO and co-founder of Astranis. "We built Astranis to deliver satellites at speed and at scale. This capital accelerates our ability to meet demand from our commercial customer base around the world, and importantly, we are now spooling up to support multiple US Government programs of record simultaneously.”

About Astranis

Founded in 2015 by John Gedmark and Ryan McLinko, Astranis develops advanced satellites for high orbits and provides dedicated, secure communication networks for enterprises, governments, and the U.S. military, and with five satellites already in orbit and more planned for launch, the company has built a commercial contract backlog worth more than $1 billion while serving customers that require high uptime, strong security, network visibility, and customized satellite solutions.

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