Anuvu secures $50 million commitment to support Constellation
Anuvu has also secured board authorization for new equity as required to support the additional expansion of Constellation.
"This capital initiative accelerates Anuvu’s growth strategy and received the full support of the company’s investors including the following companies or their managed investment funds: Apollo Capital Management, L.P., Sound Point Capital, and Arbour Lane Capital Management, LP among others," said a November 30 press release.
The capital is anticipated to support the expansion of the Anuvu Constellation ground and space networks, including its world-leading network management and data platforms and advanced mobility-focused antennas.
"With two digital payload satellites expected in service in early 2023 and an advanced ground network already ready for service, Anuvu is redefining geosynchronous orbit (GEO) mobility connectivity and paving the way for hybrid GEO and low earth orbit (LEO) network operations," said the release.
“Since announcing the Anuvu Constellation, the demand from our global mobility customers has been extraordinary. More than ever, our clients are looking to Anuvu to provide flexible satellite capacity built for mobility, without the inherent compromises of traditional geostationary designs. Today’s announcement is a testament to the success of the Anuvu Constellation and our strategy for hybrid networks,” said Josh Marks, CEO of Anuvu.