AccelerComm, a provider of high-performance 5G technology for satellite networks, has closed a $15 million funding round. The funds will be allocated to further development and acceleration of deployments for 5G satellite communications products and technology enabling Direct-to-Device (D2D) communications between handsets and space-based satellite networks.
The funding round was led by IP Group, including Parkwalk and Hostplus managed funds, with participation from IQ Capital, Swisscom Ventures’ digital transformation fund, and Bloc Ventures. This investment will support ongoing implementations with major mobile operators and satellite network customers and partners, such as Lockheed Martin. Lockheed Martin integrates AccelerComm’s solutions into their Advanced Regenerative 5G NR NTN Base Station, which is set to become the first regenerative 5G NTN payload in orbit.
In addition, David Helfgott was appointed CEO. Helfgott brings over 20 years of leadership experience in wireless and satellite communications markets. In this role, responsibilities include accelerating customer and partner engagement in the US and globally for AccelerComm’s advanced technology. Previous positions held include CEO at SmartSky Networks, specializing in inflight communications with an air-to-ground 4G LTE/5G network for aviation, and 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,” 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.”
“Having supported AccelerComm since inception, we’re delighted to see the Company attract an experienced CEO and close a new funding round, supported by additional blue-chip investors,” said Lee Thornton, Partner (Deeptech), IP Group. “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.”