CesiumAstro raised $65M as part of a Series B+ round. This brings their total venture capital funding since 2017 up to $156M.
The round was led Trousdale Ventures, Development Bank of Japan, Quanta Computers, Inc., along with participation from Perkins, Lavrock Ventures, L3Harris Technologies, InMotion Ventures, Matter Venture Partners, MESH Ventures, Assembly Ventures, and Lavrock Ventures.
More moneyCesiumAstro will use the extra funding to meet the rapidly growing market demand for reliable connectivity.
Payload’s CEO Shey Sabripour said: “We used to get emails or calls once a month, but now we receive calls every hour.”
CesiumAstro will be able to expand its physical footprint and production capabilities with the new funds.
- Physical capital: The company is investing in machines that will allow them to produce products 24 hours a day.
- Human capital: CesiumAstro has moved to larger offices in London and El Segundo and plans to increase its workforce by 250+ employees this year.
- Intellectual capital: The company’s Advanced Development team is currently working to expand the frequencies that its technology can broadcast on, with the ultimate goal of covering most of the usable spectrum.
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A company spokesperson told Payload that the majority of CesiumAstro’s $100M+ revenue and bookings come from government contracts. However, the company hopes to expand its commercial clientele in the future.
Airbus will test a low-latency prototype antenna that the company has already built.