Low-cost satellite company Swarm raises $25 mln

Palo Alto, California-based Swarm Technologies, which develops low-cost satellite communications network, announced it has raised $25 million in Series A funding. The round was led by Craft Ventures and Sky Dayton, founder of EarthLink and Boingo, with participation from Social Capital, 4DX Ventures and NJF Capital. The company, founded in 2017, has now raised $28 million in funding. Swarm was founded in 2017 by Sara Spangelo, a former NASA engineer, and Ben Longmier, former University of Michigan professor in aerospace engineering and postdoctoral fellow at NASA Johnson Space Center. Swarm said it will use the capital to hire and to deploy a constellation of 150 satellites over the next 18 months.