Ligado secures USD3.85bn in funding ahead of mission-critical 5G push

27 Oct 2020

Ligado Networks has announced that it has successfully raised USD3.85 billion in new capital, taking a major step toward realising its 5G plans for mission-critical industries. Led by JPMorgan Chase & Co., Ligado secured the investment from new and existing investors, which will support the company’s plan to expand the roster of vendors supporting the L-Band ecosystem. Doug Smith, Ligado President and CEO, commented: ‘Today is a great day, and now the fun begins.’

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)