Astrome, a 5G wireless deep-tech startup, has raised $3.4 million in a round led by IAN Fund, Urania Ventures (Germany) and Lakshmi Narayanan, Founder, Cognizant.
Other investors who joined the round include Impact Collective (South Korea), ArtPark (India) and a consortium of US-based angel investors, a release said on Tuesday.
Previously, Astrome has raised from prominent angel investors and the Indian Institute of Science, Bengaluru, it said.
The company has raised this round to expand into the US market, strengthen global operator trials, and further commercialisation of its core technology through new products, the statement said.
Founded by serial entrepreneurs Dr. Prasad H L Bhat and Dr. Neha Satak in 2015, Astrome said it provides Gigabit speed telecommunication solutions to telecom service providers, enterprises and defence.
It is also accelerating the deployment of 5G in suburban and broadband in rural areas through its patented telecom radios and satellite communication products, the statement added.
Co-Founder of Astrome, Neha Satan, said, "Our first two products, GigaMesh and GigaSat have a combined addressable market of USD 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 2 years".
With offices in Bengaluru, and San Diego, California, the company signed its first overseas deal with a South-East Asian telecom operator in 2021, besides signing a contract with Indian Defence forces to deploy GigaMesh for "fulfilling the strategic communication requirements of the country", the statement said.
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