Starcloud Raises $170M Series A at $1.1bn Valuation Led by Benchmark and EQT Ventures

REDMOND, Wash.--(BUSINESS WIRE)--Mar 30, 2026--

Starcloud, the company building data centers in space, today announced it has raised a $170 million Series A, at a $1.1 billion valuation. Achieving unicorn status just 17 months after its Y Combinator demo day, Starcloud is now the fastest unicorn in Y Combinator history. The round is also more than double the size of the next largest YC Series A, and brings the company’s total capital raised to $200 million.

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As artificial intelligence drives unprecedented demand for computing power, terrestrial infrastructure is struggling to keep pace. Permitting and building new data centers and energy projects on Earth can take up to five years. Starcloud is bypassing these terrestrial constraints by building data centers in low Earth orbit where they have access to virtually unlimited, low-cost solar energy.

"The AI revolution is colliding with the physical limits of our terrestrial energy grid. We are quickly running out of places to build new energy projects for data centers on Earth. By moving AI compute to space, we unlock access to unlimited solar power and completely remove the energy bottleneck. This funding allows us to rapidly scale our orbital infrastructure and meet the massive commercial demand for sustainable AI compute."

-Philip Johnston, Co-Founder and CEO of Starcloud

Starcloud has demonstrated a pace of execution previously unseen in the aerospace or tech industries. With just $3 million in pre-seed funding, the company designed, built, and launched its first satellite, Starcloud-1, in a record 21 months. Launched in November 2025, the mission achieved several historic industry firsts:

As part of the financing, Benchmark General Partner and six-time Midas lister, Chetan Puttagunta, will join the board of Starcloud.

“We believe that we are in the early innings of a decades-long buildout of AI infrastructure,” said Puttagunta. “Starcloud is pioneering a solution to the challenges of scaling AI infrastructure on Earth with orbital data centers. Their extraordinary engineering team has achieved significant technical breakthroughs in power and cooling, as well as innovative advancements in manufacturing processes. Most notably, the great team at Starcloud has reached these milestones while remaining exceptionally capital efficient. We believe their technical rigor and remarkable ambitions will enable them to achieve extraordinary scale.”

The new capital will accelerate the design and build of the company's next-generation Starcloud-3 satellites, the establishment of a dedicated manufacturing facility, critical headcount expansion, and the procurement of future launch contracts.

Later this year, the company will launch Starcloud-2. This satellite will feature the largest commercial deployable radiator ever sent to space and generate 100x the power generation of Starcloud-1. Starcloud-2 will be the company's first satellite to run commercial edge and cloud workloads for customers, including early customer Crusoe, alongside partnerships with AWS, Google Cloud, and NVIDIA.

The round was split into two tranches, with an initial round led by Benchmark with participation from EQT, and an extension round co-led by both investors. EQT is the world's second-largest private equity fund, with over $100bn in assets under management, and the owner of more than 70 data centers. Benchmark is the world's most successful long-running venture capital fund by returns.

The heavily oversubscribed round also saw participation from major global funds and strategic partners, including the world's largest infrastructure fund, Macquarie Capital ($500bn AUM), NFX, Nebular, Y Combinator, Adjacent, 776 Ventures, Fuse Ventures, Manhattan West, and Monolith Power Systems. Prominent angel investors joining the round include Gen. Stephen Wilson, former Boeing CEO Dennis Muilenburg, and former Starbucks CEO and Goldman Sachs board member Kevin Johnson.

For more information, visit www.starcloud.com.

About Starcloud: Starcloud is building data centers in space to solve the AI energy bottleneck. Starcloud launched its first satellite, Starcloud-1, in November 2025. It featured the first NVIDIA H100 on board, which is approximately 100x more powerful GPU compute than has been on orbit before and was the first to train an AI model in space. Founded in 2024, Starcloud is headquartered at 2517 152nd Ave NE, Redmond, WA 98052.

Starcloud satellites in space.

STOCKHOLM (AP) — Voters in Sweden will head to the polls on Sunday for an election that will determine whether a conservative leader remains in charge and a hard-right party wins ministerial jobs for the first time, or whether the center-left returns to power.

Prime Minister Ulf Kristersson is seeking a second four-year term at the helm of the European Union nation that is also NATO’s newest member. Meanwhile, his predecessor hopes to win the job back.

Experts say the campaign has been fragmented and incoherent, with policy questions such as how healthcare should be organized drowned out by questions about which parties will be able to put together a government.

“Crime has come down, inflation has come down. So these topics are not really what people discuss,” said Zeth Isaksson, a sociologist in electoral behavior at Stockholm University and a political scientist at the European University Institute in Florence, Italy. “People discuss who is going to be in government, and that’s what the election is about.”

Kristersson has led Sweden since 2022 with a three-party center-right coalition. It relies on outside support from the Sweden Democrats, an anti-immigration party that has far-right roots but has moved toward the political mainstream, for a parliamentary majority. If the right is reelected, it can expect Cabinet posts this time.

He’s up against Magdalena Andersson of the center-left Social Democrats, a party that more often than not has led Swedish governments since World War II. Andersson served as prime minister from 2021 until she lost power at the last election.

There are two major political blocs: one with four parties on the right and another with four parties on the left. So the big question is less about which party wins and more about which side can form a majority. Individual parties need a minimum of 4% of the vote to win parliamentary seats.

The Sweden Democrats, who in 2022 took 20.5% of the vote to become the biggest party on the right, can expect Cabinet seats if power doesn’t change hands.

Kristersson announced in April that his conservative Moderates would allow them into government if the right has a majority — though he would remain prime minister even if the Sweden Democrats are the stronger party.

The Sweden Democrats were founded in the 1980s by people who had been active in right-wing extremist groups, including neo-Nazis. They toned down their rhetoric and expelled openly racist members under Jimmie Åkesson, who has led them since 2005 and overseen their growth from what was once a marginal party.

The Sweden Democrats' role is in focus against a background of gains for the populist right in Europe, including the first-place finish by the far-right Alternative for Germany party in a regional election there Sept. 6.

More than 8 million people in the nation of about 10.6 million are eligible to vote in the election for the 349-seat parliament, the Riksdag, which will elect the next prime minister. The Swedish Election Authority says the first preliminary results will be available around 9 p.m. local time (1900 GMT).

Leader of the Sweden Democrats party Jimmie Åkesson votes in Rinkeby, a suburb of Stockholm, Saturday Sept. 12, 2026, a day prior to the general election in Sweden. (Claudio Bresciani/TT via AP)

Election workers Felicia Platner and Nora Aissaoui visit the Vardaga Kullabo nursing home with a mobile polling station, in in Huddinge, Sweden, Friday, Sept. 11, 2026. (Jessica Gow/TT via AP)

Social Democrats party leader Magdalena Andersson arrives for a party leadership televised debate in Gävle, Sweden, on Friday, Sept. 11, 2026. (Anders Wiklund/TT News Agency via AP)

From left, the Liberals' Simona Mohamsson, Sweden Democrats' Jimmie Åkesson, Christian Democrats' Ebba Busch and Moderates' leader Prime Minister Ulf Kristersson arrive on the Moderates' bus for the party leadership televised debate in Gävle, Sweden, on Friday, Sept. 11, 2026. (Anders Wiklund/TT News Agency via AP)

People wait in line at a polling station in Triangeln shopping center Friday evening to give their early vote, in Malmo, Sweden Friday, Sept. 11, 2026, ahead of general elections on Sunday (Johan Nilsson/TT via AP)