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Ligado invests $100m in 5G IoT networks
- June 3, 2020
Satellite communications company Ligado Networks is investing more than $100m to build 5G IoT networks that serve mission-critical industries such as public safety and emergency response, commercial transportation, energy, and manufacturing.
The financing, which comes in the wake of recent, regulatory approval modifying Ligado’s spectrum licences, is the first tranche of investment in the company’s future. The funding is said to demonstrate commitment from investors to help Ligado advance American competitiveness in the race to 5G, as well as spur economic recovery.
“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 Doug Smith, CEO of Virginia-based Ligado. “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.”
After several years of testing, the Federal Communications Commission last month approved Ligado’s more than four-year-old application to update its spectrum licences to provide new 5G services.
The new investment will support expansion of the wireless ecosystem, including chipset and device development and spectrum standardisation. Besides supporting critical entities such as public safety and emergency response, Ligado’s services can also serve customers in the transportation, agriculture, energy and supply chain sectors.
“At a time of unprecedented uncertainty at home and abroad, we stand ready to help boost America’s economic progress, job creation and national security by providing critical support to the companies and workers that this country can’t live without, which is important now more than ever,” Smith said.
As the company moves into this new phase of development, it is also taking steps to enhance its current services and introduce offerings to current customers. These include facilitating IoT device operations across satellite and terrestrial networks and providing spectrum partnerships to mobile operators, supporting the wireless networks that millions of Americans use every day.