Herndon, Va.-based HawkEye 360, a radio frequency data analytics startup, announced that it has closed on a $70 million Series B financing round. The startup reports that it will use the funding to develop and deploy its full constellation of satellites and product lines by 2021.
HawkEye 360 has secured $70 Million in Series B financing, which will enable deploying our full constellation of satellites and product lines to support customers with our advanced RF analytics. https://t.co/hwu1WAeZcg
— HawkEye 360 (@hawkeye360) August 6, 2019
This funding round had participation from new investors Airbus and Esri, existing investors Razor’s Edge Ventures, Allied Minds and Shield Capital Partners, with additional undisclosed parties, the press release states. HawkEye 360 raised $35.3 million from four previous Series A funding rounds, Crunchbase reports. This latest round brings the startup to more than $100 million in funding since its inception in 2015.
“Receiving an investment of this size, especially for a pioneering space startup, reaffirms the value investors place on the advanced capabilities of our satellites and the highly innovative RF data analytic products we are delivering to customers,” John Serafini, HawkEye 360 CEO, said in a statement. “This financing not only capitalizes the development of our full constellation, but also provides exceptional access to European markets through our new investor and distribution partner, Airbus.”
As Technical.ly DC previously reported, HawkEye 360 released its first product in April called RFGeo, a radio frequency signal mapping tool. RFGeo was designed to help customers identify and geolocate radio frequency signal, marine emergency distress beacons and vessel Automatic Identification System signals using HawkEye 360’s satellite constellation. The startup reported that it plans to launch its second round of products by early 2020.
HawkEye said its customers are using its products via an initial cluster of three formation flying satellites. The Series B funding supports the development and launch of four additional satellite clusters, forming a fully operational constellation of 18 highly capable satellites with rapid global revisit, the press release states.