Ligado Receives $100M in New Investments
Ligado Networks has received more than $100 million in new investments for its work to build 5G Internet of Things (IoT) networks, the company announced Thursday. This funding comes after the FCC recently granted Ligado approval to modify its L-band spectrum licenses.
The FCC decision has been criticized by the U.S. Department of Defense (DoD) and lawmakers, in addition to companies in the satellite industry. Last week, satellite operator Iridium and manufacturer Lockheed Martin joined several private industry groups in signing a petition asking the FCC to reconsider.
Ligado said this investment provides capital earmarked to support expansion of the wireless ecosystem, including chipset and device development and spectrum standardization. The company said it is taking steps to facilitate IoT device operations across both satellite and terrestrial networks, and providing spectrum partnerships to mobile operators. Ligado believes its network will support critical entities like public safety and emergency response, and customers in the transportation, agriculture, energy, and supply chain sectors.
“With this new round of capital, we are better prepared than ever to do exactly what we’ve said: get this mid-band spectrum deployed to support the next-generation wireless networks needed to bring America’s critical infrastructure and essential services into the 21st century,” said Ligado CEO Doug Smith. “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.”