Montréal-based startup NorthStar Earth & Space, which develops navigation and tracking solutions for earth observation and objects in orbit, has raised $47 million CAD ($35 million USD) in Series C funding.
This week, NorthStar announced that it closed its funding round led by Cartesian Capital Group through an affiliated entity, Pangaea Three Acquisition Holdings III. It also saw participation from Telesystem Space, the Québec government through Investissement Québec, the Luxembourg Future Fund, and the Luxembourg Space Sector Development Fund SCSp, which is supported by satellite telecommunications network provider SES and the Luxembourg government.
This round of capital will help accelerate the launch and commercialization of NorthStar’s space situational awareness offerings.
Founded in 2015 by current CEO Stewart Bain, NorthStar is developing tech-enabled solutions for data-driven earth observation and commercial space situational awareness , which refers to the monitoring and prediction of objects in orbit. It claims that its services enable satellite operators to manage their fleets more effectively, enhance spaceflight safety, and promote space sustainability.
Cartesian partners Beth Michelson and Paul Pizzani will be joining NorthStar’s board of directors.
Anchored in Montréal, NorthStar has also established itself in the United States with an office in Virginia, as well as in Luxembourg.
RELATED: Montreal startup NorthStar begins construction of satellites to monitor debris in space
In June 2019, NorthStar signed an agreement with the Canadian Commercial Corporation (CCC) to negotiate initial service agreements to deploy its satellites with the United States, Britain, and other countries to analyze the Earth’s ecosystems and orbit. In August of that year, NorthStar formed a partnership with the nation of Luxembourg to work on a Clean Space initiative.
According to NorthStar, this round of capital will help accelerate the launch and commercialization of its space situational awareness offerings. The Montréal space firm previously announced in October 2022 that the first three of its constellation of 24 satellites will be among the payloads carried by Spire Global’s satellites to be launched by Virgin Orbit. It is scheduled to launch in mid 2023.
In previous funding, NorthStar announced it raised $52 million CAD in 2018, which consists of the federal and Québec governments each investing $13 million into the company.