Omnispace, a company that is reinventing mobile communications by building a global hybrid network, has closed a $60 million round in equity financing that advances the development of its 5G non-terrestrial network (NTN) and expands its 2 GHz spectrum footprint in key markets globally. The Omnispace network will power critical global communications, including 5G and mobile Internet of Things (IoT) connectivity, directly from its satellites in space to mobile devices around the world.
This funding enables the company to build on the investments it has already made to validate 3GPP standards-based 5G products and technologies, and demonstrate 5G connectivity from space. The financing also paves the way for Omnispace to accelerate market access initiatives to secure 2 GHz mobile satellite service (MSS) and complementary ground component (CGC) spectrum globally, which will anchor its next-generation hybrid mobile system. Together these efforts provide the foundation for commercial partnerships with mobile network operators, who enable the terrestrial component of the hybrid network, and wireless technology and device manufacturers.
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.
Omnispace is forging ahead in the delivery of truly mobile 5G connectivity solutions from space. The network will leverage harmonized 2 GHz spectrum to bring the power of 5G to users and industries around the globe. They're delighted Fortress Investment Group and have investors share in our commitment to drive innovative, mobile connectivity solutions.
Omnispace's 'one global network' will utilize the company's priority 2 GHz S-band spectrum rights and will be compliant with 3GPP 5G standards, which will ensure security and interoperability of devices all over the world. The initial elements of the Omnispace network will enter into service in 2022, advancing the commercial, technological, and regulatory initiatives and ensure the successful launch of the global system.
