SmartSky Networks has closed on more than $32 million in additional equity and debt funding as it aims to launch its air-to-ground connectivity service for aircraft later this year, the company announced today. This adds to the $40 million in additional equity funding and $10 million in new debt secured by SmartSky in September.
“In a display of confidence in the future of SmartSky’s groundbreaking technology and services, we received new funds from our institutional investors,” said SmartSky CEO David Helfgott. SmartSky’s high-speed in-flight Wi-Fi service for business and commercial aviation uses the company’s scalable, single-beam-per-aircraft approach, which is backed by patents and years of flight testing, he added.
The company also continues to develop the Skytelligence digital platform that leverages its airborne connectivity solution. SmartSky’s Skytelligence provides a framework that enables app developers to access aviation, flight, weather data, and other related information to improve safety and efficiency.