Google, AT&T, and Vodafone, the global giants in technology and telecommunications, have pumped in $206.5 million into the company, AST SpaceMobile. In an aggressive chase for a piece of the satellite industry and a competitive edge against Starlink, these companies have placed their bets on AST SpaceMobile. This story was first reported on [Arstechnica].
Key Takeaways:
– Google, AT&T, and Vodafone invest $206.5M in AST SpaceMobile, a Starlink competitor.
– This marks the first investment from Google and AT&T in the satellite company.
– AST SpaceMobile also announces a $100M public offering of its stock.
– Collaboration on product development and implementation plans is expected between Google and AST SpaceMobile.
New Entrants in The Space Race
This investment round signals Google and AT&T’s pioneering foray into backing AST SpaceMobile. Vodafone, on the other hand, is not new to investing in the satellite entity. The telecom behemoth had previously funded AST SpaceMobile, reinforcing its confidence in the venture.
Funding and Public Offering Announcement
On Thursday, AST SpaceMobile released an announcement disclosing the fresh funding. Complementing this news was the unveiling of their intent for a $100 million public offering of the company’s stock, thus showcasing their ambitious growth plans.
Investor Collaboration and Support
Further to their financial backing, AT&T and Vodafone have also moved on to purchase orders for network equipment from AST SpaceMobile. Their intent is to bolster the planned commercial services offered by the satellite company.
Collaboration with Google
Apart from the investment, Google has entered into an agreement to collaborate on various facets with AST SpaceMobile. These aspects span across product development, testing, and creating actionable implementation plans. The target of these efforts would be to enhance the SpaceMobile network connectivity on Android devices and related products.
AST SpaceMobile’s Satellite Presence
AST SpaceMobile claims to already have a significant test satellite orbiting the Earth. It’s worth noting that the firm had previously secured investments from other industry giants such as Rakuten, American Tower, and Bell Canada. This further underlines the growing confidence and interest in satellite companies and SpaceMobile’s potential.
In conclusion, it is evident that AST SpaceMobile is gaining strong momentum in the satellite industry. With prominent companies like Google, AT&T, and Vodafone showing immense trust, the future of satellite telecommunications looks even more promising. This leap in investor confidence also sets the stage for a thrilling competition with Starlink. As these ventures unfold, the satellite service industry will undoubtedly witness breakthrough innovation, enhanced connectivity and disruption on a global level.