TLDR:
– CesiumAstro raises $65M in Series B+ funding, bringing their total venture funding to $156M since 2017
– The company plans to use the funds to expand production capacity, grow workforce, and broaden technology frequencies
CesiumAstro, a space communications technology company, has secured $65 million in a Series B+ funding round led by Trousdale Ventures, Development Bank of Japan, and Quanta Computers, Inc. This brings their total venture funding since 2017 to $156 million. The company plans to use the additional funds to meet the market’s rapidly growing need for dependable connectivity. CEO Shey Sabripour mentioned that the company has experienced a significant increase in interest from potential customers, shifting from receiving emails or phone calls once a week to hourly calls now.
The new funds will allow CesiumAstro to enhance various aspects of their business, including physical expansion and production capacity. The company is focusing on automation within its production facility, investing in machines to operate 24/7. They have also moved to larger offices in London, UK, and El Segundo, CA, and are planning to increase their workforce from 200 employees to over 250 by the end of the year. Additionally, the company’s Advanced Development team is working on broadening the frequencies its technology can broadcast over, aiming to cover the majority of the usable frequency spectrum.
While a significant portion of CesiumAstro’s revenue and bookings have come from government contracts, the company is looking to increase its commercial client base in the future. They have partnered with the Air Force to develop a phased array antenna for the Reaper drone and have delivered a low-latency antenna prototype to Airbus for testing later this year. The company remains optimistic about its growth prospects in both government and commercial sectors.
