Aalyria raises $100 million and hits $1.3 billion valuation as satellite networking demand grows
Feb 23rd 2026
The Google spinout commercializing Project Loon technology sells Spacetime software and Tightbeam laser links to route data across land, sea and space and has secured government and industry contracts.
- Investors value Aalyria at $1.3 billion after a $100 million funding round led by Battery Ventures and joined by J2 Ventures and DYNE.
- Google retains a stake in Aalyria, which spun out from Project Loon in 2022.
- Aalyria’s Spacetime software orchestrates traffic across satellite constellations while Tightbeam is a laser communications system for ships and aircraft.
- Customers and partners include Telesat, the U.S. Air Force, NASA, the Defense Innovation Unit and the European Space Agency.
- The company has about 90 employees and plans to grow headcount by at least a third with the new funding.
- Backers see Aalyria as a way to diversify satellite connectivity alternatives to Starlink after early Ukraine war disruptions.
- Aalyria will use the funds to get constellations launched, operate in space continuously, and pursue more commercial and government opportunities.