Hawkeye 360 Secures $145M to Expand RF Data Capabilities

HawkEye 360 Secures $145 Million to Expand RF Signal Monitoring Capabilities

While many companies in the Earth observation sector rely on imagery from satellites, HawkEye 360 is pursuing a distinct strategy. The company specializes in monitoring radio frequency (RF) signals, such as those broadcast by marine radios and distress beacons. Their core belief is that the electromagnetic spectrum holds valuable intelligence, comparable to the information gleaned from visible light.

Recent Funding and Investors

This approach has resonated with investors, resulting in a $145 million Series D funding round for HawkEye 360. Insight Partners and Seraphim Space Investment Trust spearheaded the investment. Additional capital came from the Strategic Development Fund, based in the United Arab Emirates.

The round also saw participation from new investors including Jacobs, Gula Tech Adventures, 116 Street Ventures, and New North Ventures. Existing investors – Advance, Razor’s Edge, NightDragon, SVB Capital, Shield Capital, and Adage Capital – also contributed to the funding.

Constellation Growth and Technology

Established in 2015, HawkEye 360 has already established a substantial network of partnerships and successfully launched nine satellites into orbit. A key feature of their satellite network is the deployment of spacecraft in clusters of three. According to CEO John Serafini, this configuration enables precise geolocation of the detected RF signals.

Currently, financing is in place for an additional seven clusters – totaling 21 satellites – with a planned launch timeline by mid-2023. This expansion will significantly enhance the company’s monitoring capabilities.

Vertically Integrated Approach

The geospatial intelligence industry often divides into companies that operate satellites and collect data, and those that acquire data for analysis. HawkEye 360 differentiates itself through a fully vertically integrated model.

The company designs and builds its own payloads, manages spacecraft operations, processes collected data, and delivers intelligence to clients via a Software-as-a-Service (SaaS) platform.

Focus on Government Applications

HawkEye 360 is primarily targeting government clients, including the U.S. government and international defense and intelligence agencies. The company’s strategy is centered on providing solutions tailored to these specific needs.

As Serafini states, a dedicated focus is crucial for success in government sales. He emphasizes the need for complete commitment to serving these customers effectively.

Partnerships and Launch Details

HawkEye 360 collaborates with UTIAS Space Flight Laboratory, located in Toronto, for payload integration onto the satellites. A recent launch, occurring in late June, utilized a SpaceX Falcon 9 rideshare mission. The satellites reached orbit with the assistance of Spaceflight’s Sherpa-FX orbital transfer vehicle.

Future Expansion Plans

Since the beginning of the year, HawkEye 360 has secured $50 million in contracts. The newly acquired funding will be used to double the planned constellation size, increasing it from 10 to 20 clusters. This expansion is projected to provide a revisit rate of approximately 12 minutes for locations across the globe.

Furthermore, HawkEye 360 intends to develop in-house spacecraft assembly capabilities, working alongside Space Flight Lab, to accelerate the growth of its constellation.