Aidan Daly
CesiumAstro, a space communications technology provider, announced closing its Series B+ funding round and raising $65 million.
Trousdale Ventures led the investor group, with matching participation from the Development Bank of Japan and Quanta Computer, CesiumAstro said Tuesday.
Defense contractor L3Harris Technologies is also one of the investors.
Shey Sabripour, founder and CEO of CesiumAstro, said, “This raise fuels our commitment to expanding our software-defined communication solutions for the next era of connectivity.” The chief executive thanked the investors for supporting CesiumAstro in becoming a leader within the space and defense industries.
For his part, Trousdale founding partner and CEO Phillip Sarofim said he and his organization are thrilled to have led the funding round. He also expressed confidence in Sabripour’s leadership and in CesiumAstro itself, whose innovations he described as “game changers.” He also said he believed the new funds “will propel their mission to deliver scalable space tech for a range of applications.”
The Austin, Texas-based company will use the fresh funds to accelerate core research and development, boost its rapid manufacturing capabilities and expand facilities.
