WASHINGTON — Antenna startup Phasor now has $41 million in the bank thanks to an oversubscribed $16 million Series B funding round.
The Washington- and London-based company said Oct. 30 that “a group of leading satellite communications mobility companies, financial investors and shareholders” contributed to the capital raise, adding to the $25 million accumulated since forming in 2005.
Phasor is developing a series of flat panel, phased-array antennas that track satellites electronically instead of using moving parts. The company’s first products are timed for release next year, and are anticipated to expand the satellite industry’s addressable market for connecting aircraft, boats and land vehicles.
A number of corporate and strategic investors participated in the Series B, according to Phasor, along with “two large family offices and an investment fund, together with existing shareholders.” The company did not identify them specifically.
“Phasor’s mission is to empower mobile broadband access across all commercial use-cases and markets, and it is on track for commercial release in 2018,” Dave Helfgott, Phasor’s CEO, said in a prepared statement. “Phasor is very pleased to welcome its new investors, alongside its supportive shareholders and other partners.”
Known Phasor partners include Thales Alenia Space, Intelsat, OmniAccess, Kepler Communications, Gogo and Speedcast’s Harris CapRock division.