Funding round
Astranis Series C
Astranis, which works in satellite design and manufacturing in San Francisco, raised $250M in a Series C round announced on 14 Apr 2021, led by BlackRock, at a $1.40B post-money valuation. 17 firms took part, 5 of them already investors. It is Astranis' fourth venture round on record; the one before was a Series B in Feb 2020.
$250M
Amount raised
$1.40B
Post-money valuation
$1.15B pre-money
17
Investors
1 lead
18%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Astranis at $1.40B after the new money. The $250M bought investors about 18% of the company. It came 14 months after Astranis' Series B. It is 24% of the $1.05B Astranis has raised in the venture rounds on record. Astranis raised again 24 months later: a Growth round of $200M in Apr 2023, at $1.60B post-money.
Astranis' funding rounds
Astranis has 7 venture rounds on record and 2 other deals. This one is highlighted.
- Seed 1 Jan 2016 $120K
- Series A 1 Mar 2018, led by Andreessen Horowitz $14M
- Series B 13 Feb 2020, led by Venrock $90M
- Debt not a venture round 17 Feb 2020 $50M
- Series C this round 14 Apr 2021, led by BlackRock $250M$1.40B post-money
- Growth 30 Apr 2023, led by Andreessen Horowitz $200M$1.60B post-money
- Series D 24 Jul 2024, led by Andreessen Horowitz and BAM Elevate $200M
- Debt not a venture round 6 May 2026 $155M
- Series E 6 May 2026, led by Snowpoint Ventures and Franklin Templeton $300M$2.80B post-money
Investors
Who put money in
BlackRock led the round with 16 other firms. BlackRock, Andreessen Horowitz, Venrock and Fifty Years and 1 more had backed Astranis before.
Lead investor
- BlackRock existing investor
Also in the round
- Baillie Gifford new investor
- Fidelity new investor
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- Venrock backs 93 venture-backed companies existing investor
- Monashee Investment Management new investor
- Uncorrelated Ventures new investor
- backs 51 venture-backed companies existing investor
- backs 27 venture-backed companies new investor
- backs 65 venture-backed companies new investor
- Indicator Fund new investor
- backs 29 venture-backed companies new investor
- AME Cloud Ventures backs 105 venture-backed companies new investor
- backs 30 venture-backed companies existing investor
- backs 12 venture-backed companies new investor
- Soma Capital backs 206 venture-backed companies new investor
- backs 50 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
10 Series C rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $89M, and this round was 2.8 times the median. The closest in time, other companies' Series C rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 14 May 2021 | $24M | not disclosed | not named |
| Shield AI Aerospace and Defence | 23 Feb 2021 | $90M | not disclosed | Point72 Ventures |
| Aerospace and Defence | 30 Jun 2021 | $46M | not disclosed | Fine Structure Ventures |
| Aerospace and Defence | 17 Dec 2020 | $8.5M | not disclosed | Future Industry and Swisscom Ventures |
| Aerospace and Defence | 18 Oct 2021 | $100M | not disclosed | BOND |
| ICEYE Aerospace and Defence | 22 Sep 2020 | $87M | not disclosed | True Ventures |
| Aerospace and Defence | 7 Dec 2021 | $85M | not disclosed | BlackRock |
| Anduril Aerospace and Defence | 1 Jul 2020 | $200M | $1.90B | Andreessen Horowitz |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Astranis raise in its Series C round?
Astranis raised $250M in its Series C round, announced in Apr 2021.
Who led Astranis' Series C round?
BlackRock led it, with Baillie Gifford, Fidelity, Andreessen Horowitz, Venrock and Monashee Investment Management and 11 more.
What was Astranis' valuation at the Series C round?
$1.40B post-money ($1.15B pre-money).
How does it compare with other Series C rounds in Aerospace and Defence?
10 Series C rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $89M, and this round was 2.8 times the median.
Did Astranis raise again after this round?
Yes: a Growth round in Apr 2023 of $200M at $1.60B post-money.