How much did AVEALTO raise?

AVEALTO raised $20 Million in a Funding Round round on October 17, 2022.

Avealto Opening $20 Million Round A To Fund Initial Production Of Wireless Infrastructure Platform Vehicles

PRIVATEOct 17, 2022

Amount Raised

$20 Million

Round Type

Funding Round

LondonHardwareSatellite CommunicationWireless

Description

AVEALTO Ltd. has opened a ROUND A funding opportunity for $20 million, to be used to set up factory operations and begin production of Wireless Infrastructure Platform (âWIPâ) vehicles after successfully completed its R&D with 4 patents. The company has identified a large existing market in which it can provide services at a lower cost and higher quality that exiting providers.

Quick answer

AVEALTO raised $20 Million in a Funding Round round, dated October 17, 2022. AVEALTO is based in London, Ontario, Canada.

How much did AVEALTO raise?: AVEALTO raised $20 Million in a Funding Round round on October 17, 2022.
What does AVEALTO do?: Avealto (Spanish: “High Bird”) a UK-based company, is building a fleet of High Altitude Platforms.
Where is AVEALTO based and how big is it?: AVEALTO is based in London, Ontario, Canada.

Source: Fundz verified event record.

Who else raised in Hardware and Satellite Communication around the same time

Companies in the same sectors as AVEALTO that raised within 45 days of this round, from Fundz verified event records.

Wytec International raised $50K on November 21, 2022.
York Space Systems raised an undisclosed amount on November 14, 2022.
Wytec International raised $30K on November 4, 2022.
Ondas raised $35M (Convertible Note) on October 26, 2022.
Astra raised $10M (Series A) on October 13, 2022.
Wytec International raised $125K on September 15, 2022.

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Company Information

Company

AVEALTO

Location

London, Ontario, Canada

About

Avealto (Spanish: “High Bird”) a UK-based company, is building a fleet of High Altitude Platforms. The global Avealto system will comprise 200 uncrewed stratospheric, long duration telecommunications platforms, providing mobile telephony, broadband communications, backhaul, broadcasting and other hosted payloads. Modular swappable payloads will be tailored to suit specific locations and markets. Avealto will complement existing terrestrial and satellite infrastructure, providing rapidly deployable connectivity for rural, remote, maritime, aeronautical and developing world customers at a substantially lower cost than existing technologies and will integrate seamlessly with existing communication infrastructure. Avealto has completed feasibility testing and is now constructing prototype vehicles.

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AVEALTO raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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