Elve – a leader in innovative millimeter wave amplifier technology – has announced the successful completion of a Series A round of $15 million from a selected group of investors, including TomEnterprise Private AB, Green Sands Equity, Yu Galaxy, Cambium Capital, and Lockheed Martin Ventures.
The company will use the funding round to grow its space connectivity market customer base and increase manufacturing capabilities.
KEY QUOTES:
“We invested in Elve because their product is a step change from the current state of the art, and has the potential to radically enhance speed and accessibility of connectivity.”
– Thomas von Koch, one of the founders of private equity firm EQT AB and owner of TomEnterprise Private AB
“Lockheed Martin Ventures invests in companies that offer leading edge capabilities that can transform how we do business. Elve’s RF power amplifier technology has the potential to enable cost effective, resilient communications in both terrestrial and space domains.”
– Chris Moran, Vice President and General Manager of Lockheed Martin Ventures
“Closing this funding round represents another significant milestone in our journey, and it will enable us to continue our mission of expanding access to fiber-like wireless connectivity.”
– Dr. Diana Gamzina, CEO at Elve
“Elve’s innovation in millimeter wave TWT-based power amplifier technology offers compactness, efficiency, reliability and, most importantly, high volume production.”
– Dr. Rich Kowalczyk, Elve’s CTO
