UPDATE UbiquitiLink, a commercial space startup that boasts “mobile connectivity for everyone, everywhere” through the use of low-orbiting nanosatellites, said Wednesday it’s raised $5.2 million in “Seed 2 round” financing. The financial backing comes from Revolution’s Rise of the Rest Seed Fund and Blazar Ventures. This brings the company’s total funding to date to $12 million and will, according to the firm, “accelerate development of the company’s commercial service” with a series of five space test flights of its technology.
AOL Co-founder/Revolution CEO Steve Case stated, “UbiquitiLink’s mission of providing everyone, everywhere with mobile connectivity is well aligned with the focus of Revolution’s Rise of the Rest Seed fund.” UbiquitiLink co-founder Charles Miller added:
“Our ability to connect satellites directly to mobile phones anywhere on Earth solves a fundamental economic problem that limits coverage in remote areas. It is economically unaffordable to build cell towers on the ground in communities with low population densities.”
July 19, 2019
The post UbiquitiLink’s “Cell Towers in Space” Venture Gets More Financing appeared first on Inside Towers.