Northwood raises $375 million to expand ground satellite network

Upwind has successfully raised $400 million in a Series C funding round. These funds will be used to further develop its platform designed to ensure security in cloud environments and in the field of artificial intelligence. Following this round, the company's valuation reached $3.8 billion.

The Upwind platform also addresses security issues arising from the increasing adoption of AI. Investors participating in the deal include Cyberstarts, Greylock Partners, Craft Ventures, Salesforce Ventures, and Picture Capital. Other investors include Leaders Fund, TCV, Alta Park Capital, Penny Jar Capital, Cerca Partners, and Swish Ventures.

Upwind was founded in 2022 by Amiram Shahar, Liran Polak, Levi Ferdman, and Tal Zur. Notably, Shahar previously co-founded Spot.io, which was acquired by NetApp for $450 million in 2020. After that, the founders focused their attention on cloud security.

This new funding followed a Series B round in January 2026. According to presented reports, the company was valued at approximately $1.5 billion at that time, demonstrating significant valuation growth within one year.

The platform integrates data from cloud workloads, application programming interfaces (APIs), and AI agents, providing security teams with a more complete context when analyzing potential threats. Unlike traditional security tools that generate a large number of alerts, Upwind indicates exactly which vulnerabilities require attention.

Upwind aims to bridge this gap by connecting runtime activity with threat intelligence. This allows specialists to precisely identify compromised systems and investigate anomalies. For example, if an AI agent is granted permission to read data 'x' but then attempts to access information it is not authorized to, Upwind can trace this back to the source code.

This transparency enables faster investigations and informed remediation actions. The platform is available on platforms such as Amazon Web Services, Microsoft Azure, Google Cloud Platform, and Oracle Cloud Infrastructure.

Upwind's revenue increased fourfold in 2026 amid growing demand for cloud and AI security. The company reported an Annual Recurring Revenue (ARR) exceeding $50 million, compared to approximately $20 million at the end of 2025.

Despite intense competition in the cloud security sector, the company's valuation of $3.8 billion with over $50 million in ARR corresponds to a multiple of about 76x revenue, setting high expectations for future growth. To support this valuation, the company needs to continue expanding its customer base. Major players in the market include Palo Alto Networks and CrowdStrike.

There are also smaller startups in AI security targeting new threats related to autonomous agents and enterprise AI applications. Upwind stands out among them due to its runtime intelligence and contextual visibility across various cloud environments.

The new investment comes at a time when companies are beginning to actively use AI agents in their business processes. These systems are capable of handling employee personal data and performing tasks without human intervention. Therefore, security teams need to understand how such agents operate within the current infrastructure.

Upwind's mission is to unify real-time data with autonomous investigation and problem resolution. The platform can help development and operations teams identify the most critical vulnerabilities. However, long-term growth will depend on customer adoption of the platform and achieving tangible security results. The raised funds will be used for further technological refinement and expansion of enterprise adoption.

Coast has secured $35 million in new equity funding to scale its financial platform designed for companies operating in the 'physical economy.' Thomvest Ventures led the funding round.

Existing investors participated in the round, including ICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid Ventures, Vintage Investment Partners, Colle Capital, Synchrony, RXR, and The Fintech Fund. The New York-based fintech company announced plans to use the capital to grow its customer base.

The funds will be directed towards developing AI-driven expense automation, as well as expanding Bill Pay and Accounts Payable offerings. These steps support Coast's goal of becoming a more comprehensive financial operating system.

Founder and CEO Daniel Simon noted that many service-sector businesses still lack financial tools tailored to their specific operations. Companies in the physical economy often manage expenses related to employees, job sites, suppliers, and vehicles, but standard banking products and corporate cards rarely provide the necessary level of control for such transactions.

Furthermore, there is a growing need for skilled tradespeople. For instance, data shows that HVAC engineer vacancies have increased by nearly 78% since 2022, and demand for electricians, welders, and construction specialists has risen by 30%. Coast initially started by issuing fuel cards for business parks.

Over time, the company expanded its services to include corporate cards, expense management, and supplier payments. Its platform serves industries such as construction, HVAC, plumbing, landscaping, pest control, solar energy, oil and gas, utilities, and others, and it can integrate with accounting systems.

The new funding will be used for investments in AI-powered expense automation. Coast will also expand its Bill Pay and Accounts Payable features to collect supplier invoices concurrently with card transactions, giving business owners a more complete view of expenses.

Financial teams will be able to use a single platform to manage employee expenses, supplier invoices, and accounting processes. Coast collaborates with companies providing fleet and field service management technologies. Through integrations with Samsara and Fleetio, operators can track vehicle locations, driver IDs, and odometer readings. This data helps identify unusual purchases; for example, the system can flag fuel transactions that do not match the vehicle's location. Operators can also deactivate cards without leaving the existing fleet management software, and the company directs drivers toward more efficient purchasing options.

This latest funding allows Coast to extend its offering beyond just fuel and parking payments. The planned products aim to consolidate procurement, supplier payments, expense control, and accounting workflows. The company did not disclose its valuation in the announcement.

Participation from Intuit Ventures may also help strengthen ties with financial software used by small businesses. Coast's integration strategy focuses on embedding within existing operational systems rather than requiring customers to replace them. Competition remains a significant challenge. While Coast's focus on field operations gives it a clear market, sustained growth will depend on the adoption and execution of its plans. The newest funding will help determine the pace of customer base expansion and delivery of planned products.

Xona has successfully raised $250 million in a Series D funding round to scale its commercial satellite navigation network. The leadership of this round was led by Future Ventures, which brought together both new and existing investors. This funding valued the Burlington-based company at $2.45 billion.

Founded in 2019, Xona develops navigation infrastructure in low Earth orbit. Its Pulsar platform aims to improve traditional GPS through stronger signals and increased positioning accuracy. With the latest investment, the company's total funding has exceeded $570 million.

CEO Brian Manning stated that the company is transitioning from technology development to commercial implementation. Xona currently has satellites in orbit, and customers are integrating the Pulsar firmware into their devices. The capital raised will be used to ensure service provision, operational expansion, and satellite manufacturing.

GPS is a critical element for transport, communication, finance, and other vital networks. However, GPS signals can be subjected to jamming or spoofing. Xona plans to offer an alternative navigation method for autonomous systems and devices that provides higher reliability and accuracy.

Xona's Pulsar network transmits navigation signals from specially designed satellites in low Earth orbit. The company claims that its technology can provide centimeter-level accuracy. Furthermore, it states that its signals are 100 times stronger than standard GPS signals.

The platform is designed to resist jamming and spoofing. Xona also aims to enable signal reception indoors, which could potentially expand navigation capabilities in environments where traditional signals struggle. These characteristics could be useful for autonomous vehicles, robotics, aviation, and critical infrastructure.

As more machines operate with limited human involvement, navigation systems are becoming increasingly important. Accurate location determination helps these systems establish coordinates and make timely decisions. More resilient signals can also support applications where navigation failures carry significant risks.

Recently, Xona conducted its largest launch to date, deploying six Pulsar satellites. Four spacecraft are intended to support the initial beta service in several countries starting in early 2027. Two additional satellites will be used to test designs developed and manufactured entirely in-house.

This launch marks a transition toward building a larger commercial constellation. Xona intends to increase production capacity at its headquarters in Burlington. The long-term constellation concept includes approximately 258 satellites.

The company is also working on establishing the operational capabilities necessary for repeatable satellite production. CEO Brian Manning has set a goal of producing 50 satellites annually by the end of 2027. Achieving this level will support the planned expansion of the navigation network.

With the new funds, Xona will accelerate satellite production and begin providing commercial navigation services. The company targets both commercial and government clients. Potential applications include autonomous systems, aviation, and critical infrastructure.

Future Ventures co-founder Steve Yurvetson, a long-time board member of SpaceX and an early investor in Xona, noted that the company has made rapid progress in creating a new global navigation network.

Nevertheless, Xona faces significant implementation challenges. It needs to scale up production, deploy its constellation, and demonstrate reliable performance in various conditions. Commercial adoption will also depend on integration with customer devices and systems.

The $250 million raise provides substantial funding for the next phase. If Xona meets its deployment goals, Pulsar could provide an additional layer of navigation resilience for the global economy.