Swedish space investor Rymdkapital empowers next steps for satellite broadband provider Forsway
Forsway, a Swedish provider of innovative, cost-efficient solutions and equipment for enabling satellite broadband connectivity in underserved regions, today announced that Swedish-based Rymdkapital (”Nordic New Space Capital AB) has endorsed Forsway with an infusion of new funding and support. Founded and backed by seasoned investment management and space industry experts, the Swedish investment firm specializes in venture capital for European space startups.
The collaboration with Forsway is part of Rymdkapital’s vision to provide capital, support and networks for new business areas for emerging new space start-ups in Europe aiming for a Global market.
-“The Nordics region proudly boasts a wide range future-oriented technologies in a wide range of industries, says Ted Elvhage, Managing Partner at Rymdkapital. With both the EU and ESA (European Space Agency) encouraging a stronger European eco-system and investments to boost commercialization of new space opportunities, we are excited to invest both capital and resources in satellite broadband technology pioneer Forsway.”
Forsway products enables improved broadband access in regions that experience no or insufficient connectivity. The company’s unique hybrid solutions enable operators and service providers to offer reliable connectivity in both emerging markets and in the rural areas found in most industrialized countries.
-“Forsway has developed unique technology and user equipment based on a benchmark hybrid model for tapping satellite broadband and existing terrestrial networks for service operators to provide easy-to-deploy, and highly cost-effective internet connectivity to severely underserved rural regions, says Tobias Forsell, CEO at Forsway. The new investment capital from Rymdkapital and hands-on support and expertise from their team are perfectly timed as we work to gain traction in global markets where we have established partnerships and customer cases.”
Following Forsway’s tradition of connecting the unconnected, Forsway satellite terminals and hub technology helps operators and service providers offer high-speed cost-efficient connectivity in regions where they previously lacked the ability to deliver reliable broadband services to end users.
“-Space services are enablers and the next frontier for long-term value creation,” says Ulf Palmnäs, co-founder of Rymdkapital. Forsway has a vision, backed by technology that can offer broadband to over 1 billion people around the world that are underserved today. Their solutions can rapidly make a significant difference to people, businesses, and rural municipalities. continues Palmnäs. Forsway has a solid team in place, already preparing for significant scale-up in the coming years.”