CONX Corporation has made a strategic investment in MobileX that gives the communications investment company a controlling interest in the AI-powered wireless carrier.
The transaction provides new capital for MobileX to expand its technology, customer acquisition and distribution footprint.
EchoStar Founder, CEO and Chairman and CONX Chairman Charlie Ergen and CONX CEO Jason Kiser will join MobileX’s board as part of the agreement.
MobileX was founded by Peter Adderton, who previously founded Boost Mobile and Digital Turbine.
Its wireless model uses artificial intelligence to predict customers’ expected data consumption and recommend personalized plans.
MobileX offers customizable service starting at $3.88 per month before applicable taxes and government surcharges.
The company plans to use the new capital to accelerate customer acquisition and expand its independent dealer and retail channels.
MobileX will also continue investing in its proprietary AI platform and explore opportunities around global connectivity and AI-enabled wireless services.
Its distribution footprint already includes more than 3,700 Walmart stores and approximately 5,000 independent dealer locations nationwide, in addition to Amazon, Walmart.com, its own website and iOS and Android applications.
MobileX customers can manually configure their plans, select an unlimited option or have the company’s AI recommend service based on actual usage.
The investment gives MobileX additional resources to compete against traditional carrier pricing models while adding an investor with direct ties to the communications and connectivity industry.
CONX focuses on communications and connectivity businesses with differentiated models and the potential to scale rapidly.
KEY QUOTE:
“The opportunity ahead is about more than just wireless costs; it’s about redefining how connectivity is delivered and what consumers should expect. CONX shares this vision, and their investment gives us the capital and resources to build on our progress and compete at a much greater scale.”
Peter Adderton, Founder And CEO Of MobileX
