Mangata Networks announces today the completion of their $33 million Series A funding round, led by Playground Global.
PHOENIX–(BUSINESS WIRE)–Mangata Networks has closed a $33 million Series A round led by US-based venture capital firm Playground Global to continue its mission to transform the way the world interacts with information. This closing manifests the truly global nature of the organization with other major investors including Temasek which is headquartered in Singapore, ktsat from South Korea, Scottish Enterprise in the UK, Promus Ventures from its Orbital Ventures Fund, and Meta Venture Partners, also in the US.
Mangata represents a tremendous leap forward in telecommunications by innovating game-changing architecture, using HEO (highly elliptical orbit) & MEO (medium earth orbit) satellite constellations, combined with the power of a terrestrial system of MangataEdge™ micro data centers, extending the cloud to the edge of the network close to users. This single core network will provide scalable B2G and B2B connectivity, that is both affordable and accessible to anyone, anywhere on the planet.
“We are out to change the world and that requires visionary investors and partners. We are really thrilled to announce this collaboration today. These investors, whose intercontinental representation reflects our own global mission, are championing a new evolution in human connectivity. We believe we have a unique combination of coverage, technology, performance, and cost that no one else can provide to their customers,” said Brian Holz, CEO – Mangata Networks.
Mangata Networks will initiate service for the entire Northern Hemisphere starting in 2024 with its initial launch of 8 HEO satellites. Subsequent launches of 24 MEO satellites will provide complete global coverage and increased overall system capacity. This innovative architecture will dramatically decrease the capital expenditure required for this scale of global connectivity, while creating access to cloud technology, backhaul, IoT services, and 5G coverage to end-users around the globe – enabling for the first time the exchange of knowledge on a truly human scale.
“Somewhere in the world await the answers to some of our most pressing questions. Building a platform to connect with each other, and to share each other’s ideas, can dramatically transfigure the world we live in,” said Juliette Neu, Executive VP and CXO – Mangata Networks. “Our goal is to develop an organization that uses space and terrestrial systems to connect one another and draw out our unique potential, wherever we may be.”
Mangata is developing a patented architecture to connect micro data centers over satellite, hosting cloud service platforms with the capability to extend connectivity directly into localized 5G, IoT and Wi-Fi networks on a global basis. Initial community networks to be deployed as early as 2023, prior to launch of its initial satellites. This will allow customers to evaluate use-cases and conduct commercial trials before the start of service. Early in 2023 the company will be implementing multiple trial networks around the world to begin product testing and evaluation in advance of its first launch, starting with South Korea in Asia, the 5G Open Innovation Lab in Seattle, and the Scotland 5G Centre in the UK.
“Mangata is founded by a dream team that substantially designed and implemented the O3b and OneWeb NGSO satellite constellations,” said Jory Bell, general partner at Playground Global. “The Mangata system represents a ‘goldilocks’ architecture that provides the best of GEO and LEO offerings with a highly configurable modern HEO / MEO constellation that can be incrementally built out while generating real revenue from day one of first deployment. We are thrilled to be able to lead an international team of investors to partner with Brian and his team as they build the world’s best integrated space-based communications and data network.”
About Playground Global
Playground Global invests in founders harnessing frontier technologies to build transformational businesses with multi-generational impact. Recognizing the promise in early-stage entrepreneurs developing new solutions in artificial intelligence, automation, life sciences, next-gen compute, cybersecurity, aerospace, and beyond, Playground offers world-class expertise across a wide variety of business and technical domains to help companies achieve their potential.
Learn more at playground.global.
About Scottish Enterprise
Scottish Enterprise is Scotland’s national economic development agency. We’re committed to growing the Scottish economy for the benefit of all, helping create more quality jobs and a brighter future for every region.
About Mangata Networks
Mangata Networks was founded in February of 2020 and initially financed by Meta Venture Partners. It is a global organization, headquartered out of Phoenix, AZ with operations in Denver, Colorado in the US, Prestwick Scotland in the UK, Singapore in Southeast Asia and Seoul, South Korea in East Asia. Using a proprietary network of satellites and terrestrial systems, Mangata is connecting people, machines, and devices across the world. The name ‘Mangata’ is a Swedish word, referring to the path of light that the moon draws on water. The moon is a powerful, universal symbol and its light represents opportunity for all. The company’s mission is to build a bridge between connectivity and access, weaving in endless possibilities for businesses and communities to share, learn from each other, and prosper.
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