Mangata Networks has closed a $33 million Series A round led by US-based venture capital firm Playground Global to continue its mission to transform the way the world interacts with information. This closing manifests the truly global nature of the organization with other major investors including Temasek which is headquartered in Singapore, ktsat from South Korea, Scottish Enterprise in the UK, Promus Ventures from its Orbital Ventures Fund, and MetaVC Partners, also in the US.
Mangata represents a tremendous leap forward in telecommunications by innovating game-changing architecture, using HEO (highly elliptical orbit) & MEO (medium earth orbit) satellite constellations, combined with the power of a terrestrial system of MangataEdge™ micro data centers, extending the cloud to the edge of the network close to users. This single core network will provide scalable B2G and B2B connectivity, that is both affordable and accessible to anyone, anywhere on the planet.
“We are out to change the world and that requires visionary investors and partners. We are really thrilled to announce this collaboration today. These investors, whose intercontinental representation reflects our own global mission, are championing a new evolution in human connectivity. We believe we have a unique combination of coverage, technology, performance, and cost that no one else can provide to their customers,” said Brian Holz, CEO – Mangata Networks.
Mangata Networks will initiate service for the entire Northern Hemisphere starting in 2024 with its initial launch of 8 HEO satellites. Subsequent launches of 24 MEO satellites will provide complete global coverage and increased overall system capacity. This innovative architecture will dramatically decrease the capital expenditure required for this scale of global connectivity, while creating access to cloud technology, backhaul, IoT services, and 5G coverage to end-users around the globe – enabling for the first time the exchange of knowledge on a truly human scale.