Swarm raises $25 million series A to build world’s lowest-cost satellite network
July 5, 2020
On behalf of the Swarm team, today we are pleased to announce the close of our Series A financing round of $25M. The round was led by Craft Ventures and Sky Dayton, founder of EarthLink and Boingo, with participation from Social Capital, 4DX Ventures and NJF Capital.
We are excited about the investment for several reasons. First, the capital provides us with the resources to build and scale Swarm beyond our initial accomplishments. In less than two years, we have designed, built, and launched seven operational satellites into Low Earth Orbit, and we’re just getting started. We’ve partnered with dozens of companies — from early-stage startups to Fortune 100 enterprises — with whom we have completed successful pilot tests in agriculture, maritime, ground transportation, and text messaging services.
Second, $25M is a meaningfully sizeable investment for a Series A in the commercial space industry. This investment from our incredible set of investors demonstrates confidence in Swarm’s vision to transform the global satellite industry by enabling low-cost access to the internet across each and every continent.
We plan to use the new capital to accelerate software and hardware integrations for customer deployments, to continue hiring world-class talent, and to deploy the Swarm constellation over the coming years. Our next steps will be to deliver transformational connectivity to a host of applications including:
- Diagnostics and emergency messages from connected vehicles
- Agriculture sensors in farmlands outside of cellular range
- Shipping containers and asset tracking across oceans
- Water monitoring devices in remote African communities
- Smart meter reporting in remote locations
- Connecting people through text messaging in rural and remote areas
We are grateful to those of you who have followed our journey thus far and joined our growing community. We look forward to sharing more exciting news and developments with you in the near future as we rapidly deploy our constellation throughout the year.
Lastly, we’re actively looking to expand and bring on new teammates that are passionate about reshaping global connectivity. We’re hiring for a variety of roles in the Bay Area. Apply here!
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