SmartSky Networks, reported the closing of over US$170m in a multi-tranche Series B financing, completing the equity funding for the deployment of its nationwide network. With this financing, the Company has raised approximately a quarter of a billion dollars in equity capital. Goldman, Sachs & Co. acted as exclusive placement agent on the transaction. SmartSky is deploying the nation’s first 4G LTE-based broadband high speed wireless air-to-ground data network dedicated to providing airborne internet connectivity. At aviation industry conferences and in private meetings, SmartSky has conducted inflight demonstrations allowing partners and flight departments to experience a level of connectivity fully comparable to the internet experience in their office or home – a first for the industry. The nationwide network rollout is underway, with the vast majority of sites expected to be operational this fall.
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Tamar Jorssen
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada