AST SpaceMobile is building the world's first space-based cellular broadband network to provide cellular connectivity directly to regular smartphones. The company claims its technology could enable data speeds up to 120 Mbps and, despite having only a single satellite in low-Earth orbit, achieved several world-firsts in 2023: the first 2G voice call from space to a smartphone, the first 4G LTE connection, first 5G voice calls, and a 14 Mbps data download. Google agreed to collaborate on product development, testing, and implementation plans for AST’s network connectivity on Android and related devices. Vodafone and AT&T have placed purchase orders for network equipment to support planned commercial service, and AST says it has agreements or understandings with more than 40 global mobile network operators representing over two billion subscribers. AT&T is leasing its 700 and 850 MHz spectrum to AST to support the project. The company announced a strategic financing package and a planned public offering to bolster its cash position. AST&Science designs and manufactures miniature satellites for low-Earth orbit (LEO) using patented LEO satellite technology. The company produces ultra-small satellites called Microns and plans high-volume production. It is investing $25 million to build an additional U.S. manufacturing facility for Microns. Earlier this year AST&Science acquired a controlling interest in European satellite company NanoAvionics. The company received a significant equity investment from Cisneros to accelerate development and deployment of its space technologies. AST&Science was founded by Abel Avellan, a 25-year satellite industry veteran who previously sold EMC for $550 million.

Total raised

$322M

Funding rounds

3

Latest round

Convertible Note

Latest activity

Jan 2024