HSBC Innovation Banking has provided Northwood Space with a separate multi-year credit facility to support working capital and network expansion, the company said in a 2 November 2026 announcement. The size and terms of the facility were not disclosed.
The debt was announced alongside a $375m Series C equity round co-led by Andreessen Horowitz and DFJ Growth. Alpine Space Ventures, Washington Harbour Partners, StepStone Activate, In-Q-Tel and other investors also participated.
Northwood builds a shared, multi-orbit ground network connecting satellites to Earth. The company designs and manufactures modular antennas, including Portal phased arrays and Prism dishes, at its Torrance, California site.
The company has more than 140 employees and plans to add 400 jobs in Torrance and Washington, DC, over the next three years. Since its Series B, Northwood has deployed six multi-orbit-capable sites on two continents and opened a 185,000 sq ft headquarters and factory in Torrance in September 2026.
Proceeds from the equity round will be used to support delivery on existing contracts, hire staff and build out Northwood’s global ground network for commercial, US government and allied space missions.
Katherine Boyle, general partner at Andreessen Horowitz and Northwood board director, said: "We've backed Northwood in every round since seed because we believe ground infrastructure is essential to making space infrastructure more abundant."
TechCrunch reported on 2 November 2026 that the Series C values Northwood at $2bn. Northwood’s announcement did not state a valuation.
Northwood raised a $30m Series A in April 2025. It announced a $100m Series B on 27 January 2026 led by Washington Harbour Partners and co-led by Andreessen Horowitz, with participation from Alpine Space Ventures, Founders Fund, StepStone and others.
On the same day as the Series B announcement, Northwood disclosed a $49.8m US Space Force contract to support the Satellite Control Network. No earlier debt facility has been disclosed.