HawkEye 360 raised $70M in its Series B funding round to support the launch of four additional satellite clusters designed to handle the firm's new radio frequency data analytics offerings slated for development in 2021. The company said Tuesday that the funds will support its goal of establishing an operational constellation of 18 satellites which will build on the first satellite cluster's launch in 2018 and second cluster's launch in 2020.
HawkEye CEO John Serafini noted that the funding will help expand its market access to other regions through investors such as Airbus. Other HawkEye investors include Esri, Shield Capital Partners, Allied Minds and Razor's Edge Ventures.
Weil, Gotshal & Manges LLP served as legal counsel for HawkEye while PJT Partners LP was the company's placement agency and exclusive financial advisor for the transaction.