Astrome Technologies, a 5G wireless deeptech start-up company, has raised a funding of 3.4 million dollars, which has been co-led by the Urania Ventures, IAN Fund, and Lakshmi Narayanan, founder of cognizant.
The Art Park of India, Impact Collective of South Korea and a consortium of angels based in the United States has also participated in the raising of the funds, and the company has also received the funding from the Indian Institute of Science and also from a prominent individual, based in Bangalore, India.
The fund is going to be used for the expansion of the company into the United States, along with strengthening the global operator trials and commercialisation of the company’s core technology in the future through the new products.
The company ‘Astrome’ has been responsible in providing the gigabite speed telecommunication solutions to the telecommunications service providers enterprises and defence setups, and the deeptech start-up company has been using the same technology as the internet based on the satellite, and the company is also going to be accelerating the deployment of the 5G technology in the suburban and the broadband service in the rural areas through the country’s patented telecom radios and also the satellite communication products.
Neha Satak, co-founder of Astrome said, the first two products of the company are having a combined addressable of around 34 billion dollars across the globe, and this market has been expanding at a rapid speed because of the increasing need for the broadband and mobile communication infrastructure as a result of the new changes in the lifestyle.