October 5, 2022

AVEALTO Launches US$20 Million Series A to Fund Initial Production of Wireless Infrastructure Platform Vehicles

AVEALTO will offer a US$20 million SERIES A funding opportunity, to be used to establish manufacturing operations and begin production of full-size commercial Wireless Infrastructure Platform (“WIP”) vehicles.

AVEALTO will offer a US$20 million SERIES A funding opportunity, to be used to establish manufacturing operations and begin production of full-size advertisements Wireless Infrastructure Platform (“WIP”) Vehicles. Avealto has identified a huge total addressable market in which it can provide services at lower cost and higher quality than existing providers.

Avealto has already signed commitments for $2.75 million of the $20 million to be raised in this round.

Avealto, a UK-based company, was set up to design, build and operate a fleet of Wireless Infrastructure Platforms (WIPs) that can seamlessly replace point-to-point satellite services at lower cost and with better quality service. Continued improvements in battery and solar cell efficiency have now resulted in a commercially viable WIP vehicle optimized for delivering telecommunications services.

Avealto’s flight testing with sub-scale vehicles and positive reviews from third-party experts provided the confidence to move quickly to begin production to meet demand from high-value markets identified by the company. .

Avealto will provide midstream infrastructure services to existing telecom operators. The first WIP vehicles will be deployed in high demand areas. Avealto WIP vehicles will be able to provide cost-effective wholesale capacity that will allow telecom operators to compete with LEO, MEO and GEO satellites.

“Our management team and investors are dedicated to using WIP technology to cost-effectively bridge the global digital divide”

– Walt Anderson, co-founder of Avealto Ltd and founder of two earlier telecommunications “unicorns”.

Avealto’s management team has decades of experience developing and managing new telecommunications technologies. In addition, Avealto works with world-class aerospace and telecommunications partners in the UK and around the world to bring WIPs to market. Avealto is a member of GVF, the global satellite industry associationand the Asia-Pacific Satellite Communications Council.

Source: AVEALTO Ltd.

For more information, contact:

https://www.avealto.com/

Thomas A. Olson

Director of Business Development, Avealto

[email protected]

(Editor’s note: “Avealto” is derived from the Spanish “alto avenue” or “big bird”)

About us: Avealto Ltd. was founded with the goal of connecting the unconnected, serving the underserved, and bringing the rest of the world into the global conversation. We hope you will join us.

Contact information:
Name: Thomas Andrew Olson
E-mail: Send an email
Organization: Avealto Ltd.
Website: https://avealto.com

Build ID: 89081540

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COMTEX_414281048/2773/2022-09-12T22:58:48