Anuvu secures commitment for additional growth capital to support Anuvu constellation
Anuvu, the leading provider of high-speed satellite connectivity and entertainment solutions for demanding worldwide mobility markets, today announced it has secured a commitment for a total of US$50 million of growth capital to support the expansion of the Anuvu Constellation and other growth initiatives.
In addition, Anuvu secured board authorization for new equity as required to support additional expansion of the 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.
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.
“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,” says Josh Marks, CEO of Anuvu.
Sean Bratches, chairman of Anuvu’s Board of Directors added, “Anuvu is at the forefront of advanced connectivity. Today’s announcement is an affirmation of Anuvu’s technology leadership and demonstrates the strong confidence and commitment of Anuvu’s investor base.”