With additional investments from the IAN Group, the Appollo Fund led a $10 million funding round for deeptech startup Astrome Technologies.
According to the company’s LinkedIn announcement, the fund would help it grow its wireless connectivity technologies, product lines, and market presence in both satellite and terrestrial communications.
With this investment, Astrome Technologies hopes to increase its position in the developing wireless and space communication sectors. Additional plans call for expanding operations, creating new product lines, and enhancing market presence.
The round’s contributions from investors in Singapore, Dubai, and India demonstrated the increasing interest in cutting-edge wireless technology around the world.
Astrome was characterized by Apollo Funds as a pioneer in the development of wireless communication. The funding round’s lead banker, Bandana Kankani of Nexxt Mile, emphasized the need for reliable, high-bandwidth communication solutions and voiced confidence in the company’s potential for expansion.
Astrome CEO Neha Satak emphasized the fund as a step in achieving the company’s goal of revolutionizing connection.
According to other media reports, she said, “This foray into the satcom (satellite communications) market represents the timely realisation of the vision with which this company was founded to drive innovation and create solutions that enhance connectivity on a global scale.”
Astrome, which has operations in California and Bengaluru, previously received $3.4 million in a 2021 bridge deal. The most recent round attracted investors from India, Singapore, and Dubai, demonstrating a global interest in cutting-edge wireless solutions.
Satak and Prasad (HL) Bhat launched Astrome in 2015 with the goal of improving 5G and rural telecommunications infrastructure. The company specializes in millimeter-wave E-band radios and satellite communication solutions.
Through collaborations with multinational original equipment manufacturers (OEM), the company intends to use the funding to expand production capacity, create next-generation solutions, and deliver its flagship GigaMesh product to foreign markets.
With capabilities like electronic auto link alignment and point-to-multipoint communication, GigaMesh, which is made to interact with optical fiber systems, supports 5G and 6G connectivity.
These developments make it possible for digital infrastructure to be deployed more quickly, more affordably, and with better network performance on land, at sea, and in the air.