Startup Hubble Network has raised $200 million in a Series C funding round led by Smith Point Capital, with participation from Seraphim, Carthona Capital, Earthshot Ventures, Y Combinator, and RPM Ventures. The round raised the company’s valuation to $1.6 billion, bringing it into the unicorn club, while total funding raised since its founding reached $300 million.
Hubble Network was founded in 2021 by Alex Haro and Ben Wild and is headquartered in Seattle. The company is working to combine Bluetooth Low Energy (BLE) with a satellite network that allows devices to send location and sensor data directly into orbit after a software update, according to the company.
Space Connectivity Without Additional Hardware
Hubble says BLE-compatible devices do not need a separate satellite modem or new components to connect to its network. Manufacturers rely on integrating the company’s software development kit into their devices. For new product designs, the company says adding Bluetooth to the bill of materials costs no more than 50 cents.
This model places the focus on software and the proliferation of compatible devices rather than adding costly space-connectivity components to every product. However, the source does not provide details about the actual service cost, power consumption, or operational limitations associated with sending data via satellites.
A Network Expanding from Terrestrial Coverage to Orbit
Hubble announced the public availability of its space network alongside the funding round. According to the company’s latest figures, its terrestrial network reaches more than 100 million gateways in 170 countries, while the number of active devices on the network has exceeded 500,000, after growing more than tenfold in one year.
The company currently owns six satellites in low Earth orbit and aims to increase the number to 60 satellites by 2030. The new satellites are being developed based on Muon Space’s MuSat XL platform.
What Changes in Practice?
Hubble aims to reduce the cost of tracking equipment and products operating beyond the reach of terrestrial networks, including equipment used at remote sites. Samsara, the company’s partner, uses the technology to track equipment belonging to teams working in areas not reached by traditional networks.
The company is betting on expanding usage from high-value shipments to everyday consumer goods, so that a product can be tracked from when it leaves the warehouse until it reaches the end user. The significance of the development lies not only in the funding round, but also in the attempt to make satellite connectivity an extension of the BLE chips already present in a wide range of devices. However, the ability of this model to scale remains tied to increasing the number of satellites, the cost of the service, and the availability of compatible devices and gateways.
Hubble will direct the new funding toward expanding its satellite network and reducing connectivity costs, without the article disclosing a detailed timeline for implementing these plans or the terms for making the service available to manufacturers and users.