Telcom Ventures.
Ram Viswanathan, Omnispace’s president and CEO, said in a Tuesday announcement that his company would use the new funds to accelerate the process of validating 3GPP standards-based 5G products and technologies, demonstrating 5G connectivity from space, and securing both 2 GHz S-band mobile satellite service and the complementary ground component spectrum that will anchor its hybrid mobile system. Startups typically use equity financing to pay short-term bills as they work to meet long-term goals.
Unlike others who see satellite connectivity playing a back-up role in providing 5G wireless services, Omnispace believes that satellites can play a leading role by providing 5G and mobile Internet of Things (IoT) connectivity to mobile devices around the world using 2 GHz S-band spectrum and a hybrid network that includes its own group of small satellites. Omnispace hopes to both launch its satellites and roll out its network services in phases starting in 2022.