5G deeptech startup Astrome raises $3.4 million for US expansion
Impact Collective (South Korea), ArtPark (India) and a consortium of US-based angels also participated in the fundraising. The company previously received funding from prominent individual investors as well as Indian Institute of Science Bangalore.
The fresh capital will be used for expansion into the US, as well as to strengthen global operator trials and further commercialisation of its core technology through new products, according to a statement released on Tuesday.
Founded by Prasad HL Bhat and Neha Satak in 2015, Astrome provides gigabit speed telecommunication solutions to telecom service providers, enterprises and defence setups. It is accelerating the deployment of 5G in suburban and broadband in rural areas through its patented telecom radios and satellite communication products.
“Our first two products, GigaMesh and GigaSat, have a combined addressable market of $34 billion globally,” Satak said. “This market is expanding quickly due to the rising need for mobile and broadband communication infrastructure as a result of the change in lifestyle in the last two years.”
With offices in Bengaluru, and San Diego, California, the company signed its first overseas deal with a Southeast Asian telecom operator in 2021, besides signing a contract with Indian defence forces to deploy GigaMesh for “fulfilling the strategic communication requirements of the country”, the statement read.
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With inputs from PTI.