- Companies
- Kepler Communications
Kepler Communications Funding, Investors & Competitors
Kepler Communications has raised $173M across 6 funding rounds, most recently a $92M Series C in April 2023.
Last Kepler Communications funding round
$92M
Series C · Apr 2023
Cumulative funding Kepler Communications raised
$173M
across 6 funding rounds
Key investors in Kepler Communications
IA Ventures
Techstars
Costanoa Ventures
Canaan Partners
Tribe Capital
Dylan Taylor
Right Side Capital Management
Plug and Play
About Kepler Communications
Kepler Communications is a Toronto-headquartered satellite operator deploying low-Earth orbit constellations for global data relay. The company launched its first KIPP satellites in 2018, providing wideband store-and-forward services for remote IoT sensors transmitting gigabytes monthly. Kepler's narrowband everywhereIoT service connects assets in polar regions and oceans via bi-directional links. With over a dozen satellites in orbit, it targets nanosatellite operators needing real-time inter-satellite laser communications.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Kepler Communications Funding History
Kepler Communications has raised a total of $173M across 6 funding rounds.
Kepler Communications' first fundraising round was a $100K pre-seed round in February 2016. The most recent completed round was a $92M Series C in April 2023.
Kepler Communications funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2023 | Series C | IA Ventures (lead); Canaan Partners; Tribe Capital; BDC Capital; Costanoa Ventures | $92M | Kepler Communications, a Toronto-based company building the Internet for space, raised $92 million in its Series C funding round on April 13, 2023, led by IA Ventures with participation from Costanoa Ventures, Canaan Partners, Tribe Capital, and BDC Capital’s Industrial Innovation Venture Fund. This brought the company's total equity funding since 2016 to more than $200 million. The funds will support the launch of an optical data relay infrastructure in 2024, complementing its existing radio-frequency (RF) network of 19 satellites in sun-synchronous orbits, with two more scheduled via SpaceX’s Transporter-7 mission. Kepler’s optical communications system will feature two near-orthogonal planes of relay satellites connected via SDA-compatible optical inter-satellite links, enabling high-speed data relay as internet exchange points for space-to-space communications. The company plans to launch two pathfinder satellites in Fall 2023 to test and validate this optical technology, with services operational for customers by Q1 2025. Kepler also operates ground stations, in-house satellite production, and offers turnkey solutions including service-level agreements (SLAs) covering payloads, spectrum licenses, security, and edge computing. IA Ventures' Brad Gillespie highlighted Kepler’s role in providing reliable connectivity for space assets amid falling launch costs, citing proven customer demand and potential for profitability. CEO Mina Mitry emphasized extending modern internet capabilities to space to simplify mission communications. Previously, Kepler closed a $60 million Series B in 2021 and continues advancing with flight-proven satellites, positioning itself in the growing space connectivity market. |
| Jun 2021 | Series B | Tribe Capital (lead); Canaan Partners; Sand Hill Angels; IA Ventures; Costanoa Ventures | $60M | - |
| Oct 2018 | Series A | Costanoa Ventures (lead); IA Ventures; Deutsche Bahn Digital Ventures; Techstars | $16M | Kepler Communications raised a $20.8 million round on October 15, 2018, led by Costanoa Ventures with participation from Deutsche Bahn Digital Ventures, IA Ventures, and Techstars. The company, founded in 2015 by University of Toronto aerospace engineers, develops satellite telecommunications to build the internet for space, providing real-time connectivity for low Earth orbit (LEO) missions and beyond. This Series A funding followed earlier seed rounds and supported network expansion after establishing a UK presence. Kepler has since raised additional rounds, including a $60 million oversubscribed Series B in 2021 led by Tribe Capital with Canaan Partners, IA Ventures, and Costanoa Ventures, bringing total funding over $90 million USD at that time. The Series B funded next-generation satellites, team growth from 80 to 150 people, and a US office for customer access. In 2023, a $92 million Series C led by IA Ventures with BDC Capital, Canaan Partners, Costanoa Ventures, and Tribe Capital pushed cumulative equity past $200 million, enabling optical constellation pathfinder satellites and profitability goals. |
| Jul 2016 | Seed | IA Ventures (lead); Plug and Play; SK Ventures; Liquid 2 Ventures; Globalive; Space Capital; York Angels Investors; v1.vc; Dylan Taylor; Techstars; Business Development Bank of Canada | $5M | Kepler Communications is a Toronto-based satellite communications company founded by aerospace engineers that builds an in-orbit optical network to provide connectivity for space assets. |
| Feb 2016 | Pre-seed | Right Side Capital Management | $100K | - |
| Feb 2016 | Pre-seed | Techstars (lead); Dylan Taylor | $100K | - |
Who has invested in Kepler Communications?
18 investors have backed Kepler Communications across its funding rounds, including IA Ventures, Techstars, Costanoa Ventures, Canaan Partners, Tribe Capital and Dylan Taylor.
Lead investors include IA Ventures, Tribe Capital, Costanoa Ventures and Techstars.
Kepler Communications Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jul 2016 | ||
| 3 | Lead | Feb 2016 | ||
| 3 | Lead | Oct 2018 | ||
| 2 | Participant | Jun 2021 | ||
| 2 | Participant | Feb 2016 | ||
| 2 | Lead | Jun 2021 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jul 2016 | ||
This data is available for Pro users. Sign up to see all 18 Kepler Communications investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKepler Communications Competitors
Kepler Communications competitors include listed companies like SpaceX, EchoStar, AST SpaceMobile and China Satellite, and private ones like ICEYE and Helium.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $289M | $115M | $12B | 40.3x | ||
| Private | - | - | $1.2B | - | ||
| Publicly listed | $19B | $3.9B | $2.0T | - | ||
| Publicly listed | $15B | ($16B) | $27B | 3.1x | ||
| Publicly listed | $71M | ($419M) | $19B | 148.3x | ||
| Publicly listed | $394M | $263M | $15B | - |
Kepler Communications Public Comps
Kepler Communications is still privately-owned, but its public comps include SpaceX, Bharti Airtel, Equinix, Johnson Controls, American Tower, Digital Realty Trust, Nokia, Ciena, Telstra and Yangtze Optical Fibre.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $19B | $3.9B | 106.0x | - | 503.3x | - | |||
| $22B | $12B | 6.2x | 5.7x | 11.3x | 10.1x | |||
| $9.2B | $3.9B | 13.3x | 12.3x | 31.3x | 24.2x | |||
| $24B | $3B | 4.0x | 3.7x | 31.0x | 20.0x | |||
| $11B | $6.2B | 12.4x | 12.0x | 21.1x | 18.2x | |||
| $6.1B | $3.7B | 14.6x | 13.1x | 24.2x | 24.2x | |||
| $23B | $2.2B | 2.5x | 2.4x | 26.4x | 17.3x | |||
| $4.8B | $333M | 10.4x | 7.9x | 148.4x | 36.4x | |||
This data is available for Pro users. Sign up to see all Kepler Communications competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kepler Communications
| When was Kepler Communications founded? | Kepler Communications was founded in 2015. |
| Where is Kepler Communications headquartered? | Kepler Communications is headquartered in Toronto, Canada. |
| Is Kepler Communications publicly listed? | No, Kepler Communications is a private, VC-backed company. |
| How much funding has Kepler Communications raised? | Kepler Communications has raised $173M across 6 funding rounds. |
| What was Kepler Communications' last funding round? | Kepler Communications' last funding round was a $92M Series C in April 2023, led by IA Ventures. |
| Who are Kepler Communications' investors? | Kepler Communications' investors include IA Ventures, Techstars, Costanoa Ventures, Canaan Partners, Dylan Taylor, Tribe Capital, Plug and Play, SK Ventures, Liquid 2 Ventures, Globalive and 8 others. |
| Which companies are comparable to Kepler Communications? | Companies comparable to Kepler Communications include ICEYE, Helium, SpaceX, EchoStar, AST SpaceMobile and China Satellite. |
See companies similar to Kepler Communications
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




