Ligado Networks, an American satellite communications company, on Friday announced more than $100 million in new investments.
The Company said that it will use the new funding to take steps to build 5G IoT networks that serve mission-critical industries like public safety and emergency response, commercial transportation, energy, and manufacturing.
The financing, which comes in the wake of recent, unanimous regulatory approval modifying Ligado’s spectrum licenses, is the first tranche of new investment in the company’s future. The funding demonstrates significant commitment from investors to help Ligado advance American competitiveness in the race to 5G, as well as spur economic recovery.
After several years of testing, the Federal Communications Commission last month approved Ligado’s more than four-year-old application to update its spectrum licenses to provide new 5G services.
The new investment announced today provides capital specifically earmarked to operationalize Ligado’s vision. It will support expansion of the wireless ecosystem, including chipset and device development and spectrum standardization.
Doug smith, CEO, Ligado
The investments will create American jobs, expand innovation and directly enhance critical industries such as first responders, health care workers and supply chain personnel that depend on ubiquitous and ultra-reliable networks to protect and secure American lives.
