HawkEye 360 has generated $55 million from a Series C fundraising round, led by venture capital firm Night Dragon, to seed radio frequency sensing satellite development and deployment.
The new capital, which brings HawkEye 360's total raised to more than $155 million, will be used to build nine additional satellites in three clusters for RF data collection and analytics work, the company said Monday.
Other participants in the investment round were Adage Capital, Advance, Dorilton Ventures, Esri International, Razor’s Edge Ventures and Shield Capital.
Herndon, Virginia-based HawkEye 360 achieved initial operating capability status for its Cluster 2 satellites in late March and aims to deploy the next three sets to orbit through 2022 along with ground support systems.
The company uses satellite technology to supply RF signal location data to government and commercial users worldwide.
John Serafini, HawkEye 360 CEO, said the recent funding round aimed to "further our goal of rapid revisit and low-latency data and data analytics, so our global customers can use this information to react quickly to pressing concerns.”