SmartSky Networks Raises $32M in Financing
SmartSky Networks has closed on more than $32 million in equity and debt funding, the company announced Monday. This funding comes as the company prepares to roll out its Air-to-Ground (ATG) aviation Wi-Fi connectivity service this year.
SmartSky’s office-grade inflight Wi-Fi service for business and commercial aviation uses the company’s scalable, single-beam-per-aircraft approach, which it said is backed by a substantial patent portfolio and years of flight testing. The company pitches its solution as one that enables b-directional connectivity without the latency of satellite-based solutions.
CEO David Helfgott called the funding a “display of confidence in the future of SmartSky’s groundbreaking technology and services.”
Helfgott was formerly CEO of satellite antenna tech company Phasor, which went bankrupt in May 2020. South Korean defense company Hanwha Systems acquired Phasor’s business assets in June, and Helfgott joined SmartSky in October 2020.