Latest Telcom Ventures News
Feb 5, 2021
Omnispace has raised $60m in new funding for the development of a global 5G/IoT hybrid mobile network, combining satellite and terrestrial coverage. The funding round was led by new investor Fortress Investment Group, and includes further backing from the existing investors Columbia Capital, Greenspring Associates, TDF Ventures and Telcom Ventures. “Omnispace represents the next evolution of mobile telecommunications. The company recognizes that industries now require truly global mobile connectivity without compromise. Omnispace will be the first to power global 5G from space to universal devices on a single, seamless network leveraging their 2 GHz spectrum platform,” said Joshua Pack, Managing Partner, Fortress Investment Group. Other companies looking to provide satellite-based 5G and broadband networks include Elon Musk’s Starlink , Jeff Bezos’ Project Kuiper and the UK government-owned OneWeb . Hybrid mobile network A US company, headquartered in Washington D.C., Omnispace’s stated aim is to combine the footprint of a non-geostationary satellite constellation with the mobile networks of telecom companies “to bring an interoperable ‘one network. connectivity to users and IoT devices anywhere on the globe”. “We are forging ahead in the delivery of truly mobile 5G connectivity solutions from space. Our network will leverage harmonized 2 GHz spectrum to bring the power of 5G to users and industries around the globe,” said Ram Viswanathan, president and CEO for Omnispace. “We’re delighted Fortress Investment Group and our investors share in our commitment to drive innovative, mobile connectivity solutions.”
Telcom Ventures Team
1 Team Member
Telcom Ventures has 1 team member, including former Chief Executive Officer, Rahul C Prakash.