Startup Omnispace Secures $60M Funding for Development of 5G Non-terrestrial Network

Omnispace last week announced that it closed on a round of $60 million in equity financing that advances its development of its 5G non-terrestrial network (NTN) and expands its 2 GHz spectrum footprint in key markets globally. 

The Omnispace network will power critical global communications, including 5G and mobile Internet of Things (IoT) connectivity, directly from its satellites in space to mobile devices around the world.

This funding enables the company to build upon the investments it has already made to validate 3GPP standards-based 5G products and technologies, and demonstrate 5G connectivity from space. The financing also paves the way for Omnispace to accelerate market access initiatives to secure 2 GHz mobile satellite service (MSS) and complementary ground component (CGC) spectrum globally, which will anchor its next-generation hybrid mobile system. Together these efforts provide the foundation for commercial partnerships with mobile network operators, who enable the terrestrial component of the hybrid network, and wireless technology and device manufacturers.

Omnispace’s ‘one global network’ will utilize the company’s priority 2 GHz S-band spectrum rights and will be compliant with 3GPP 5G standards, which will ensure security and interoperability of devices all over the world. The initial elements of the Omnispace network will enter into service in 2022, advancing the commercial, technological, and regulatory initiatives and ensure successful launch of the global system.