Sept 23 (Reuters) – Hubble Network raised $200 million in a Series C round that valued the Seattle-based satellite Bluetooth startup at $1.6 billion, as it opened its constellation to general availability on Wednesday. Here are some details: • The round was led by Smith Point Capital, with participation from Seraphim, Carthona Capital, Earthshot Ventures, […]
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Satellite Bluetooth startup Hubble Network raises $200 million at $1.6 billion valuation
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Sept 23 (Reuters) – Hubble Network raised $200 million in a Series C round that valued the Seattle-based satellite Bluetooth startup at $1.6 billion, as it opened its constellation to general availability on Wednesday.
Here are some details:
• The round was led by Smith Point Capital, with participation from Seraphim, Carthona Capital, Earthshot Ventures, Y Combinator and RPM Ventures.
• The financing brings Hubble’s total funding to $300 million. The company said it would use the new capital to expand its satellite constellation to 60 satellites by 2030, from six currently operating in low Earth orbit.
• Hubble said its technology enables standard Bluetooth Low Energy radios already inside a device to transmit location and sensor data globally through a firmware update, without cellular modems, GPS or dedicated satellite hardware.
• Hubble said it has partnerships with semiconductor company Texas Instruments, and said smart-label maker Reelables is also working with the company.
• Hubble was founded by Alex Haro, who previously co-founded Life360, a location-based connectivity company that allows families to share their locations.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Tasim Zahid)