Altaeros and its floating cell tower get funding from Tokyo's Sparx Group

Sparx Group in Japan said it will invest an unspecified amount in Boston's Altaeros Energies for its 'autonomous aerostat platform' called the SuperTower that can transmit broadband signals from a blimp.

March 19, 2020

1 Min Read

TOKYO – SPARX Group Co. today announced that its Mirai Creation Fund II (two) —established in July 2018—has executed an investment (the amount is not disclosed) in Altaeros Energies, Inc. (“Altaeros”), a Boston-based startup that has developed an autonomous aerostat platform called the SuperTower. The capital will speed up the deployment of the SuperTower, a project that uses Altaeros’ proprietary autonomous aerostat (tethered balloon) technology to bring mobile broadband and IoT to rural communities and industries.

Portfolio Company Outline Altaeros (HQ: Somerville, MA, U.S.A., CEO/CTO & Co-Founder: Ben Glass, Chairman & Co-Founder: Adam Rein) was founded at MIT in 2010, based on the belief that everyone should have access to the same basic building blocks for a prosperous life, whether they live in a megacity or a rural village. Altaeros is focused on developing and deploying innovative real-world infrastructure solutions. Its initial product, the SuperTower, leverages the world’s first fully autonomous aerostat platform to permanently deploy modern communication networks in rural markets and for emergency response, at a fraction of the cost of alternatives. The SuperTower floats 800 feet above ground and can lift a wide range of equipment. Applications include rural broadband, cellular, agricultural and industrial IoT, emergency response and many more, in both developed and emerging markets around the world.

Altaeros

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