AccelerComm secures £11m led by IP Group to scale satellite 5G technology
The financing round was led by IP Group with backing from IQ Capital, Swisscom Ventures and Bloc Ventures to fund product development and deployments.
AccelerComm supplies high-performance 5G technology tailored for satellite networks and direct-to-device communications. Its modular physical layer solutions integrate with standard architectures to support space-based connectivity.
AccelerComm has secured £11m in a funding round led by IP Group, incorporating contributions from its Parkwalk and Hostplus managed funds. Additional backing came from IQ Capital, Swisscom Ventures, and Bloc Ventures. The proceeds will be directed towards advancing product development and accelerating deployments of the firm's satellite communications technology, which facilitates direct-to-device connectivity between standard handsets and space-based networks.
Alongside the financial injection, the company appointed industry veteran David Helfgott as chief executive officer. Helfgott brings over two decades of leadership experience across the wireless and satellite sectors to guide the business through its next phase of commercial expansion.
From the founder
"There is growing momentum in the mobile communications industry towards using 5G enabled satellites to augment existing coverage and capacity delivered by terrestrial networksAccelerComm’s unique technology and acumen position us at the centre of this shift, delivering a critical building block required to provide best in class 5G services from space. I’m delighted to be joining the company at such an exciting time as it launches a world-first solution, and with further ground-breaking innovations and launches around the corner. The recent announcement of our 5G NTN solution has led to great interest from mobile operators and satellite networks from around the world."
David Helfgott
CEO at AccelerComm
Investor perspective
"Having supported AccelerComm since inception, we’re delighted to see the Company attract an experienced CEO and close a new funding round, supported by additional blue-chip investors. AccelerComm has one of the world’s leading technologies for fast and efficient communications in the nascent low-earth-orbit satellite market. The company is well-positioned for growth, with a market that is projected to be worth $100bn within a decade, and we look forward to future progress."
Lee Thornton
Partner (Deeptech), IP Group
Use of funds
- 01Continue product development
Investors
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About the company
AccelerComm
AccelerComm delivers high-performance 5G technology for satellite networks.