The money raised will be used to further develop and accelerate deployments of the company’s 5G satellite communications products and technology that enable Direct-to-Device (D2D) communications between phone handsets and space-based satellite networks.
The round was led by IP Group, including its Parkwalk and Hostplus managed funds, with support from IQ Capital, Swisscom Ventures’ digital transformation fund and Bloc Ventures.
The investment will be used to support the company’s ongoing implementations with key mobile operator and satellite network customers and partners, including Lockheed Martin, which is using the company’s solutions in their Advanced Regenerative 5G NR NTN Base Station, set to be the first regenerative 5G NTN payload in orbit.
The company also announced the appointment of David Helfgott as CEO, a senior executive with more than 20 years of leadership experience across wireless and satellite communications markets. In his new role Helfgott will be responsible for accelerating customer and partner traction in the US and globally for AccelerComm’s cutting-edge technology.
“There is growing momentum in the mobile communications industry towards using 5G enabled satellites to augment existing coverage and capacity delivered by terrestrial networks,” said Helfgott. “AccelerComm’s technology position us at the centre of this shift, delivering a critical building block required to provide best in class 5G services from space.”
“Non-terrestrial network convergence of satellite and mobile technology is reshaping the future of connectivity, and UK companies like AccelerComm are helping to drive that transformation,” said Henny Sands, Head of Telecommunications at the UK Space Agency. “This investment marks a significant step towards achieving universal mobile coverage through space-based 5G. The UK Space Agency is proud to support pioneering businesses developing world-class and unique capabilities, and we welcome AccelerComm’s continued innovation in this critical sector.”
Commenting Lee Thornton, Partner (Deeptech), IP Group, said, “AccelerComm has one of the world’s leading technologies for fast and efficient communications in the nascent low-earth-orbit satellite market. The company is well-positioned for growth, with a market that is projected to be worth $100bn within a decade, and we look forward to future progress.”
