RESEARCH TRIANGLE PARK – SmartSky Networks just got an injection of capital ahead of the launch of its new air-to-ground communications network for aviation.
The RTP-based in-flight internet provider recently raised roughly $41.3 million in equity and debt, according to a recent SEC filing. The round kicked off May 29, and SmartSky is still looking to raise another $73.6 million.
SmartSky is currently focused on expanding its coverage footprint by installing equipment on more cell towers and undertaking further system testing in preparation for launch, the company said.
“SmartSky Networks is pleased to have received considerable new capital from investors, allowing us to extend our runway as we continue deploying our next-generation Wi-Fi connectivity system for aviation,” Michael Miller, SmartSky’s VP of Corporate Marketing and Communications, told WRAL TechWire on Wednesday.