Hubble Network, a Seattle-based satellite connectivity company, has raised $200 million in Series C funding at a $1.6 billion valuation.
The round was led by Smith Point Capital, with participation from Seraphim, Carthona Capital, Earthshot Ventures, Y Combinator and RPM Ventures. The latest funding brings Hubble Network’s total funding to $300 million.
Hubble Network is building a satellite network that allows devices with Bluetooth Low Energy (Bluetooth LE) technology to connect directly to satellites without requiring a dedicated satellite modem or additional hardware.
The company says its technology can turn the Bluetooth LE radio already included in many devices into a global connection for location and sensor data. Hubble provides an SDK and firmware integration that allows compatible devices to connect to its network.
The company is targeting asset tracking and other applications in areas where traditional cellular networks have limited coverage. Hubble says its approach can reduce the cost of adding satellite connectivity to devices, with connectivity adding less than 50 cents to the bill of materials for new designs.
Hubble currently has six satellites in low Earth orbit and plans to expand the constellation to 60 satellites by 2030. Its terrestrial network includes more than 100 million gateways across 170 countries and more than 3 million square miles.
The company says more than 500,000 devices are currently active on its network, representing more than ten times the number from a year ago.
Hubble has also partnered with companies including Samsara, Texas Instruments, InPlay and Reelables. Muon Space is developing Hubble’s next-generation satellites using its MuSat XL platform.
The new funding will be used to expand Hubble’s satellite constellation, develop its technology and reduce the cost of satellite connectivity for a wider range of connected devices.
Founded and led by CEO Alex Haro, Hubble Network aims to make satellite connectivity available to Bluetooth-enabled devices without requiring dedicated satellite hardware.
