Takeaways by Bloomberg AI
Satellite startup Hubble Network raised $200 million in a new funding round, taking the company’s valuation to $1.6 billion as it works to enable global Bluetooth connectivity through a network of spacecraft.
The Seattle-based company, helmed by Life360 Inc. co-founder Alex Haro, is building a system of 60 satellites in low-Earth orbit to connect with Bluetooth-enabled devices globally. The service, which utilizes both satellites and a ground-based network, can be used to monitor objects embedded with a Bluetooth chip, including packages, vehicles and pharmaceuticals.