AST SpaceMobile explains funding
January 4, 2024
Texas-based AST SpaceMobile, which says it building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, has explained how its much-needed financing is shaping up.
AST has already launched the massive ‘BlueWalker 3’ satellite. Each satellite comprises flat phased-array technology. The 693-square-foot array consists of thousands of antennas designed to work together to communicate directly with phones on the ground.
The company’s engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected and using cellular smart phones.
AST says it has raised $850 million and now holds more than 3,100 patents and patent-pending claims. It adds that it has signed agreements and understandings with more than 40 cellular operators which themselves have around 2.4 billion existing subscribers.
As to pending fundraising, AST says it is now seeking to close and fund a previously disclosed strategic investment in January 2024 with multiple parties, subject to completion of final documentation and approvals.
However, its statement cautioned saying that nothing is guaranteed and it might fail in its attempt.