US-based venture capital firm Playground Global led the Series A round
Phoenix-headquartered Mangata Networks has secured $33 million in its Series A round of funding. The round was led by US-based venture capital firm Playground Global. More investment came from Temasek, ktsat, Scottish Enterprise, Promus Ventures, and MetaVC Partners.
“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 is currently developing a patented architecture to connect micro data centers over satellite, hosting cloud service platforms with the capacity to extend connectivity directly into localized 5G, IoT, and Wi-Fi networks on a global basis.
The company is looking to implement multiple trial networks around the world in 2023 to start the 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.