Signaling that low-Earth orbit satellite companies continue to be a hot investment, Virginia-based HawkEye 360 has raised $58 million in funding. The latest round was led by BlackRock, with other funding from Manhattan Venture Partners.
HawkEye 360 operates a constellation of 21 satellites that detect, characterize and geolocate radio frequency signals. These signals come from such emitters as those used for communication, navigation and security, the company said.
To date, the company said it has geolocated more than 200 million RF signals to provide insight on early-warning radar activity, military activities, illegal fishing, illegal mining, and indicators of GPS interference. Some of its customers include those in the telecommunications, maritime and defense industries.
The company, which has been monitoring overseas conflicts, including in the Ukraine, has grabbed several contracts with U.S. Defense Department agencies. The company has used its satellites to track GPS interference in the Ukraine conflict.
To date, the company, which hopes to have as many as 60 satellites in LEO by 2025, has raised about $360 million. Its existing investors include Insight Partners, NightDragon, Razor’s Edge, Alumni Ventures, and Adage Capital.
