Astrome, a deeptech startup, has announced that it has raised $3.4 million in IAN Fund led bridge funding round. The round also saw participation from Germany-based Urania Ventures, Lakshmi Narayanan (Founder, Cognizant), Impact Collective from South Korea, India’s ArtPark, among other angel investors.
“Astrome is the only company that has a product which features multiple-point-to-point communication in E-Band, resulting in a much lower CapEx than the competition. Our first two products, GigaMesh and GigaSat have a combined addressable market of $34 billion, globally. This market is expanding quickly due to the rising need for mobile and broadband communication infrastructure as a result of the change in lifestyle in the last two years. Moreover, Astrome’s technology is driven by software to make it easy to deploy, maintain and repair remotely,” said founder Neha Satak.
She added, “We are grateful to have received this support from marquee investors in our journey to establish GigaMesh as a leading solution for 5G backhaul, mid-haul, and front-haul, globally.”
Rajnish Kapur, Managing Partner of IAN Fund, said, “The 5G rollout will in turn fuel the need for robust backhaul as the number of cell sites go up by nearly 5 times. While the current default choice for the backhaul remains fiber optics, it is also quite difficult and time-consuming to lay in a typical dense urban setting. This is where Astrome’s proprietary mm-Wave technology steps in to provide fiber-like-wireless backhaul connectivity, for both 5G and terrestrial broadband, which is light on both CapEx and OpEx for the telecom operators. Astrome is also using the same technology platform to deliver satellite-based internet access solutions. Through its unique products, the company is pioneering the future of millimeter-wave wireless communication, be it on earth or from space.”
