Series C Funded Hardware Startups
Series C rounds in this hardware set span from 2021-02-09 (Swift Navigation, $50M) through 2025-11-11 (Ferroelectric Memory Company, $89M), with the most r…
Series C rounds in this hardware set span from 2021-02-09 (Swift Navigation, $50M) through 2025-11-11 (Ferroelectric Memory Company, $89M), with the most recent year showing frequent seven- to nine-figure disclosed checks (e.g., Loft Orbital $170M on 2025-01-14; Lumafield $75M on 2025-03-13; Render $80M on 2025-01-21). Size is sharply uneven on disclosed amounts: the largest disclosed round is DriveNets’ $262M on 2022-08-17, which dwarfs the next-largest figures in the visible list (e.g., Astranis $250M on 2021-04-14; IXcellerate $190M on 2022-01-25), while at the low end Zenlayer shows $100K on 2022-01-04.
Geographically, the data are heavily weighted toward the US and the San Francisco Bay Area: multiple entries are based in San Francisco (Render 2025-01-21 $80M; Loft Orbital 2025-01-14 $170M; Nile 2023-08-01 $175M; Astranis 2021-04-14 $250M; Swift Navigation 2021-02-09 $50M), and several additional US cities appear (e.g., San Jose for Axiado 2024-12-04 $60M and Cassia Networks with an undisclosed amount on 2022-04-26; San Antonio for Plus One Robotics $53M on 2023-03-07). Temporally, disclosed rounds cluster most densely in 2022 and 2023, with fewer entries afterward despite continued activity into 2025.
Most recent rounds
48 shownRelated listings
Frequently asked
What are the largest and smallest disclosed Series C rounds here, and how extreme is the spread?
DriveNets’ $262M on 2022-08-17 is the largest disclosed amount, clearly above other top disclosed rounds such as Astranis’ $250M on 2021-04-14 and IXcellerate’s $190M on 2022-01-25. On the low end, Zenlayer closed $100K on 2022-01-04, which sits far below the rest of the disclosed range (e.g., Firefly Aerospace $30M on 2023-02-16).
Which quarters look most active in this list, based on the round dates shown?
Most of the 48 entries fall into 2022–2023, including multiple high-frequency mid-year points (e.g., 2022-08-17 DriveNets $262M; 2022-06-23 Tibit Communications $30M; 2023-09-12 floLIVE $47M). After that, the listing thins out by 2024, though it continues into 2025 with several Series C closings from January through November (including Loft Orbital on 2025-01-14 and Ferroelectric Memory Company on 2025-11-11).
Are there city concentrations—especially around San Francisco—that stand out?
Yes. San Francisco appears repeatedly with multiple disclosed rounds: Loft Orbital (2025-01-14, $170M), Render (2025-01-21, $80M), Nile (2023-08-01, $175M), Astranis (2021-04-14, $250M), and Swift Navigation (2021-02-09, $50M). That concentration is stronger than other single cities in the table, even where multiple US hubs also appear (e.g., San Jose for Axiado $60M on 2024-12-04 and Cassia Networks with an undisclosed amount on 2022-04-26).
How many entries have undisclosed or non-disclosed disclosed amounts, and do they affect the outlier comparisons?
Three entries show amounts marked undisclosed: Boston Micro Fabrication (2023-02-21), Picocom (2022-10-12), and Cassia Networks (2022-04-26). Because outlier comparisons here rely on disclosed amounts, the extreme high end is still dominated by DriveNets $262M (2022-08-17) and the extreme low end by Zenlayer $100K (2022-01-04).
Which periods define the edges of the series, and what are the newest and oldest dated rounds shown?
The newest dated entry in the visible set is Ferroelectric Memory Company on 2025-11-11 for $89M. The oldest dated entry is Swift Navigation on 2021-02-09 for $50M, creating a range from early 2021 through late 2025 in this Series C hardware slice.
Do the very largest rounds cluster in a single era, or are they spread across years?
The largest disclosed rounds appear across multiple years rather than one narrow moment: DriveNets leads in 2022 with $262M (2022-08-17), IXcellerate is another high point in early 2022 at $190M (2022-01-25), and Astranis is the top figure outside 2022 at $250M in 2021 (2021-04-14). Even in 2025, large checks exist but don’t reach the 2021–2022 maximums (e.g., Loft Orbital $170M on 2025-01-14 versus DriveNets’ $262M).
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