Satellite Bluetooth startup Hubble Network raises $200 million at $1.6 billion valuation

By Reuters News

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 TXN.O, 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.



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