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IoT

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

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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