AccelerComm has announced that it has closed a funding round totalling $15m. The capital 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 support the company’s ongoing implementations with key mobile operator and satellite network customers and partners, including Lockheed Martin. Lockheed Martin is deploying AccelerComm’s solutions in their Advanced Regenerative 5G NR NTN Base Station, set to be the first regenerative 5G NTN payload on 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 David will be responsible for accelerating customer and partner traction in the US and globally for AccelerComm’s cutting-edge technology. Most recently, he held the position of CEO at SmartSky Networks, with an air-to-ground (ATG) 4G LTE/ 5G network for aviation. Prior to that he held President and CEO roles at Phasor, Inmarsat Government, DataPath Inc, and SES Government.
“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 David Helfgott, CEO of AccelerComm. “AccelerComm’s unique technology and acumen position us at the centre of this shift, delivering a critical building block required to provide best in class 5G services from space. I’m delighted to be joining the company at such an exciting time as it launches a world-first solution, and with further ground-breaking innovations and launches around the corner. The recent announcement of our 5G NTN solution has led to great interest from mobile operators and satellite networks from around the world.”
“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,” added Henny Sands, Head of Telecommunications, 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.”
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