Astranis Space Technologies is taking the wraps off a plan to provide internet access to billions of people, using small-sized, low-cost satellites that are lofted into high-flying orbits.
The San Francisco-based venture emerged from stealth mode today and reported a $13.5 million Series A investment round, led by Andreessen Horowitz with additional participation by Y Combinator, Fifty Years, Refactor Capital and Indicator Fund.
The new investment brings Astranis’ total funding to $18 million. That may sound like a lot — until you consider that aerospace heavyweights such as SpaceX and OneWeb are spending billions of dollars pursuing the same goal.
The competition doesn’t faze Astranis CEO and co-founder John Gedmark, an aerospace engineer who previously served as executive director of the Commercial Spaceflight Federation.