Advertisment

Astrome Technologies raises $10 Mn led by Appollo Fund

Astrome Technologies, an e-band long-distance communication solutions provider, has raised $10 million in funding led by Apollo Fund, with follow-on investments from IAN Group.

author-image
Gyan Vardhan
New Update
Astrome

Astrome Technologies, an e-band long-distance communication solutions provider, has raised $10 million in funding led by Appollo Fund, with follow-on investments from IAN Group.

The funds will advance Astrome's innovative wireless connectivity technologies, scaling operations, expanding product lines, and entering the satellite communication market, the company said in a press release.

The deeptech startup had previously raised $3.4 million in a bridge round in September 2021.

"This foray into the satcom market represents the timely realization of the vision with which this company was founded – to drive innovation and create solutions that enhance connectivity on a global scale,” said Neha Satak, CEO of Astrome.

Astrome’s GigaMesh integrates with optical fiber systems to enable 5G and 6G connectivity. Its features, like auto link alignment and point-to-multipoint connectivity, ensure faster deployment, lower costs, and better network performance.

Astrome will soon supply its innovative GigaMesh product to the global market through partnerships with international OEMs. Current E-band technology faces limitations due to costly, mechanically aligned antennas, which GigaMesh aims to overcome.

The company has improved rural connectivity in India by partnering with the government to deliver broadband to remote villages. Its cutting-edge technologies are trusted by major clients, including the Indian Army, Navy, and BSNL.

For the fiscal year ending in March 2024, Astrome reported Rs 8.29 crore in revenue against Rs 2.71 crore in the previous fiscal year. During the period, its losses reduced to Rs 1.73 crore from Rs 4.93 crore.

Astrome
Advertisment
Fetch New URL