Ligado Networks secures USD100m funding

29 May 2020

Ligado Networks has taken receipt of more than USD100 million in new investments, which it says will help it to take the necessary steps to build 5G IoT networks to serve mission-critical industries such as public safety, emergency response, commercial transportation, energy and manufacturing. The financing, which comes in the wake of recent regulatory approval modifying Ligado’s spectrum licences, has been described as ‘the first tranche of new investment in the company’s future’.

Ligado CEO Doug Smith commented: ‘With this new round of capital, we are better prepared than ever to do exactly what we’ve said: get this mid-band spectrum deployed to support the next-generation wireless networks needed to bring America’s critical infrastructure and essential services into the 21st century.’

As previously reported by TeleGeography’s CommsUpdate, Ligado Networks – which emerged from ill-fated open-access 4G start-up LightSquared in February 2016 – was belatedly given the go-ahead by the Federal Communications Commission (FCC) to utilise its L-band spectrum for 5G in April 2020.

United States, Ligado Networks (formerly LightSquared)