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