Northwood Space Corp. closed a $375 million equity round on Nov. 2 to expand ground infrastructure for commercial, U.S. government and allied missions as reported satellite counts neared 15,000 in orbit.
Northwood, based in Torrance, California, said it plans to use the proceeds to advance current contracts, hire staff and build out a global ground network. Andreessen Horowitz and DFJ Growth co-led the financing. Northwood named Alpine Space Ventures, Washington Harbour Partners, Stepstone Activate and In-Q-Tel as additional participants.
Northwood said HSBC Innovation Banking is providing it with a separate multiyear credit facility to support working capital and network growth. The company did not disclose the facility’s size or terms.
In Northwood’s view, ground networks have not kept pace with satellite growth. It says systems built for individual missions may take months or years to scale, while its approach combines modular equipment with capacity shared among users.
The Organisation for Economic Co-operation and Development reported nearly 15,000 operational satellites by mid-2026, after reporting more than 14,000 at the end of 2025. CelesTrak’s Satellite Catalog listed 17,372 active satellites in a snapshot dated Nov. 1. The OECD and CelesTrak use different categories, so those totals are not directly comparable.
Since its $100 million Series B in February, Northwood said it had deployed six sites able to support multiple orbits across two continents. The company also reported live tests of geosynchronous command capacity using a commercial phased array and the development and launch of a high-throughput antenna system. In February, Northwood said it had received a $49.8 million U.S. Space Force contract to support the Satellite Control Network.
Northwood’s Torrance headquarters and factory opened Aug. 31 and covers 185,000 square feet. The company said the expansion grew its manufacturing space from 25,000 to 135,000 square feet.
Axios reported the round valued Northwood at $2 billion, but the company did not state a valuation in its announcement.
