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

Kepler Communications Overview

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

CanadaToronto

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

Kepler Communications funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2023Series CIA Ventures (lead); Canaan Partners; Tribe Capital; BDC Capital; Costanoa Ventures$92MKepler 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 2021Series BTribe Capital (lead); Canaan Partners; Sand Hill Angels; IA Ventures; Costanoa Ventures$60M-
Oct 2018Series ACostanoa Ventures (lead); IA Ventures; Deutsche Bahn Digital Ventures; Techstars$16MKepler 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 2016SeedIA 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$5MKepler 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 2016Pre-seedRight Side Capital Management$100K-
Feb 2016Pre-seedTechstars (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

Investors in Kepler Communications by funding rounds participated
InvestorHQRoundsRoleFirst check
IA VenturesUnited StatesUnited States4LeadJul 2016
TechstarsUnited StatesBoulder, CO3LeadFeb 2016
Costanoa VenturesUnited StatesSan Francisco, CA3LeadOct 2018
Canaan PartnersUnited StatesUnited States2ParticipantJun 2021
Dylan TaylorUnited StatesDenver, CO2ParticipantFeb 2016
Tribe CapitalUnited StatesSan Francisco, CA2LeadJun 2021
Plug and PlayUnited StatesSan Francisco, CA1ParticipantJul 2016
SK VenturesUnited StatesRichmond, VA1ParticipantJul 2016
Liquid 2 VenturesUnited StatesSan Francisco, CA1ParticipantJul 2016
GlobaliveCanadaToronto1ParticipantJul 2016
Space CapitalUnited StatesNew York City, NY1ParticipantJul 2016
York Angels InvestorsCanadaToronto1ParticipantJul 2016
v1.vcUnited StatesSan Francisco, CA1ParticipantJul 2016

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Kepler Communications Competitors

Kepler Communications competitors include listed companies like SpaceX, EchoStar, AST SpaceMobile and China Satellite, and private ones like ICEYE and Helium.

Public and private companies comparable to Kepler Communications
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ICEYEFinlandEspooPrivate$289M$115M$12B40.3x
HeliumUnited StatesSan Francisco, CAPrivate--$1.2B-
SpaceXUnited StatesUnited StatesPublicly listed$19B$3.9B$2.0T-
EchoStarUnited StatesUnited StatesPublicly listed$15B($16B)$27B3.1x
AST SpaceMobileUnited StatesUnited StatesPublicly listed$71M($419M)$19B148.3x
China SatelliteChinaChinaPublicly 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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SpaceX$19B$3.9B106.0x-503.3x-
Bharti Airtel$22B$12B6.2x5.7x11.3x10.1x
Equinix$9.2B$3.9B13.3x12.3x31.3x24.2x
Johnson Controls$24B$3B4.0x3.7x31.0x20.0x
American Tower$11B$6.2B12.4x12.0x21.1x18.2x
Digital Realty Trust$6.1B$3.7B14.6x13.1x24.2x24.2x
Nokia$23B$2.2B2.5x2.4x26.4x17.3x
Ciena$4.8B$333M10.4x7.9x148.4x36.4x

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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.

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