Anuvu raises $50m
December 3, 2021
By Chris Forrester
Anuvu, the new name for the in-flight connectivity business previously known as Global Eagle, has raised $50 million (€44.2m) to fund what they describe as a small batch of geostationary satellites.
Global Eagle was rescued out of bankruptcy protection in March 2021 and renamed Anuvu with the new business ordering two satellites out of a planned batch of eight from satellite builder Astranis. These first two are scheduled for launch in early 2023.
The new orbiting satellites will join the company’s existing clients and capacity serving Wi-Fi onto aircraft, boats and other remote locations and in particular to the North American and Caribbean markets.
The contract is for small satellites, measuring one metre cubed. Anuvu already leases capacity from a number of existing satellite operators, and has contracts in place for capacity on Telesat’s Lightspeed low Earth orbiting constellation.
The new $50 million in funding comes from existing investors including Apollo Capital Management, Sound Point Capital and Arbour Lane Capital Management.
Joshua Marks, Anuvu’s CEO, said recently it was still assessing where the remaining six satellites in its planned constellation with Astranis will target.