Laser comms startup Transcelestial raises US$10 million led by Airbus Ventures
TRANSCELESTIAL has raised US$10 million in a Series A2 funding round led by Airbus Ventures, as it works on developing its wireless laser communications technology to bring superfast Internet connectivity to the masses.
Of the total funds raised in the round, US$3 million comprised venture debt from Genesis Alternative Ventures. Other participants in the round include Kickstart Ventures; Wavemaker; Seeds Capital; and Cap Vista, the strategic investment arm of Singapore’s Defence Science and Technology Agency.
In-Q-Tel, which makes investments that serve the national security interests of the US and its allies, joined a previous undisclosed funding round in Transcelestial.
Singapore-based Transcelestial said the funds will be used to ramp up growth in Indonesia, India, the Philippines, Malaysia and Singapore.
It is working with telecom companies, Internet service providers and enterprise partners to deliver 4G, home and office broadband and campus connectivity.
“A great case study in 2022 was the urgent connectivity to a group of islands in Malaysia we provided, which allowed for dozens of villages downstream to livestream the Fifa World Cup, and also use it for education, healthcare and financial transformation,” said chief executive officer and co-founder Rohit Jha in a statement. The Business Times