Anuvu Secures Commitment for Additional Growth Capital to Support Anuvu Constellation
Apollo Capital Management, L.P., Sound Point Capital, Arbour Lane Capital Management, LP and other investors participate in financial round to accelerate network build-out
Los Angeles, CA, November 30, 2021 – Anuvu, the leading provider of high-speed satellite connectivity and entertainment solutions for demanding worldwide mobility markets, today announced it has secured a commitment for a total of $50 million of growth capital to support the expansion of the Anuvu Constellation and other growth initiatives. In addition, Anuvu secured board authorization for new equity as required to support additional expansion of the Constellation. This capital initiative accelerates Anuvu’s growth strategy and received the full support of the company’s investors including the following companies or their managed investment funds: Apollo Capital Management, L.P., Sound Point Capital, and Arbour Lane Capital Management, LP among others.
The capital is anticipated to support the expansion of the Anuvu Constellation ground and space networks, including its world-leading network management and data platforms and advanced mobility-focused antennas. With two digital payload satellites expected in service in early 2023 and an advanced ground network already ready for service, Anuvu is redefining geosynchronous orbit (GEO) mobility connectivity and paving the way for hybrid GEO and low earth orbit (LEO) network operations.
“Since announcing the Anuvu Constellation, the demand from our global mobility customers has been extraordinary. More than ever, our clients are looking to Anuvu to provide flexible satellite capacity built for mobility, without the inherent compromises of traditional geostationary designs. Today’s announcement is a testament to the success of the Anuvu Constellation and our strategy for hybrid networks,” says Josh Marks, CEO of Anuvu.
Sean Bratches, chairman of Anuvu’s Board of Directors added, “Anuvu is at the forefront of advanced connectivity. Today’s announcement is an affirmation of Anuvu’s technology leadership and demonstrates the strong confidence and commitment of Anuvu’s investor base.”
About Anuvu
Anuvu’s team of global experts effortlessly manage connectivity and content requirements for demanding mobility markets including airlines, cruise lines, and mission-critical maritime, energy and government applications. Through long-standing customer relationships, we have a proven track record for meeting our customers’ needs, even as the world changes. Anuvu’s flexible and agile approach enables us to adopt the newest technology to optimize our clients’ experience and we take pride in maximizing the performance of today while optimizing for tomorrow. Our goal is to provide our clients with reliable, scalable, and affordable solutions that meet the ever-changing needs of their passengers and guests. Through our intelligent leadership and innovation, Anuvu defines next-generation passenger experiences through integrated solutions tailored to our customers’ brands and service objectives.
Anuvu. Let Innovation Move You.
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Contact:
Kite Hill PR for Anuvu
Bridget Callahan
Anuvu@kitehillpr.com
Released November 30, 2021