Mangata Networks, a satellite-based telecoms startup, has raised $33 million (£24.2m) in Series A funding to begin building its innovative satellite edge network.
The goal driving Mangata is to create a constellation of satellites that includes some in highly elliptical orbit (HEO) and others in medium Earth orbit (MEO). These satellites will then connect to a grounded system of MangataEdge micro data centres, extending the cloud to edge networks close to end users.
Intellectual Ventures’ Invention Science Fund, which was backed by Bill Gates, gave the company its initial seed financing in 2020.
This Series A round was led by Playground Global with other major investors including Temasek from Singapore, South Korean-based ktsat, Scottish Enterprise in the UK, and Promus Ventures.
Brian Holz, Mangata’s CEO, said: “We are out to change the world, and that requires visionary investors and partners.
“These investors, whose intercontinental representation reflects our own global mission, are championing a new evolution in human connectivity. We believe we have a unique combination of coverage, technology, performance, and cost that no one else can provide to their customers.”
Mangata is developing a patented architecture to connect its micro data centres to its satellite constellation, with ambitions to start deploying its terrestrial network in 2023.
This will give the company time to test connectivity for 5G, IoT and Wi-Fi networks at trial sites in the US, Scotland, and South Korea.
If this goes to plan, Mangata will launch an initial 8 HEO satellites to provide coverage for all of the Northern Hemisphere in 2024. A subsequent 24 MEO satellites will complete global coverage and increase system capacity.
Eventually, the constellation will grow to 791 satellites.
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