Hubble Network

Satellite Connectivity · IoT · Space Tech

Funding

Hubble Network raises $200M Series C at $1.6B valuation

The satellite startup just turned any Bluetooth chip into a tracking beacon, skipping the costly hardware that limited rivals to only high-value assets.

• Hubble Network closed a $200 million Series C at a $1.6 billion valuation, led by Smith Point Capital with Seraphim, Carthona Capital, Earthshot Ventures, Y Combinator and RPM Ventures.
• The Seattle startup lets standard Bluetooth Low Energy chips connect directly to satellites via a firmware update, no special hardware required.
• The raise coincided with Hubble moving out of closed beta into general availability, opening its network to any BLE device rather than just pilot partners.
• Active devices on the network grew more than 10x year-over-year to over 500,000, while the satellite constellation is still just 6 of a planned 60 by 2030.
• Cellular networks cover only about 15% of Earth's landmass, and satellite tracking hardware has historically cost $10 to $50 per unit, versus under 50 cents for Bluetooth chips.
• Hubble's only direct venture-backed competitor, Swarm, was acquired by SpaceX in 2021, leaving Hubble largely alone among independent satellite-IoT startups.
• By betting that removing specialized hardware -- not adding more satellites -- unlocks scale, Hubble is wagering its low-power approach beats the capital-intensive satellite-IoT model that has struggled elsewhere.