Fri, Feb 08, 2019
Has Raised Nearly $350 Million To Date
Inflight internet provider SmartSky Networks has closed a total of $104 million in funding, including $75 million in debt commitments from funds managed by the Global Credit team at BlackRock and equity investments by private equity firms Tiger Infrastructure, WP Global, Platform Partners, and Meritage Investors. The funds will be used in the on-going rollout of SmartSky’s nationwide air-to-ground network. With this new round of financing, SmartSky has raised almost $350 million in funding to date. The company is advised by Allen & Company LLC.
“This investment represents an expression of confidence in SmartSky by these sophisticated investors, including some of the most highly regarded institutions in the world,” said SmartSky CEO Haynes Griffin, “and comes only a few days after the announcement of our first commercial aviation customer. Both of these milestones were preceded by firsthand flight trials which demonstrated conclusively to these partners the ability of SmartSky’s blazing-fast, affordable two-way internet connectivity to fundamentally transform aviation.”
"After a rigorous selection process including my personal inflight evaluation, we chose SmartSky’s state-of-the-art, high-speed technology because it delivers the most compelling user experience," said JetSuiteX CEO Alex Wilcox.
SmartSky’s first-of-its-kind, real-time system provides over ten times the speed of legacy airborne connections and is the most secure and affordable inflight internet solution available. The ground-based components of the system are being deployed throughout the contiguous United States using a mix of 4G LTE and emerging 5G technologies, similar to some of the recent improvements in terrestrial cellular networks. The inflight connectivity network will be commercially available later this year.
(Source: SmartSky Networks news release)
More News
Touchdown Zone Lighting Two rows of transverse light bars located symmetrically about the runway centerline normally at 100 foot intervals. The basic system extends 3,000 feet alon>[...]
“Discovery and innovation are central to our mission at Virgin Galactic. We’re excited to build on our successful record of facilitating scientific experiments in subor>[...]
"We are reaching out to you today on behalf of the Popular Rotorcraft Association because we need your help. We are dangerously close to losing a critical resource that if lost, wi>[...]
UAS Traffic Management (UTM) The unmanned aircraft traffic management ecosystem that will allow multiple low altitude BVLOS operations and which is separate from, but complementary>[...]
Aero Linx: Society of Aviation and Flight Educators (SAFE) SAFE is a member-oriented organization of aviation educators fostering professionalism and excellence in aviation through>[...]