January 16, 2019 | International, Aerospace
Isotropic Systems Raises $14 Million in Series A Funding Led by Boeing HorizonX Ventures to Advance Space-Based Connectivity
Isotropic's approach to next-generation integrated terminal creates profound change in terminal economics and performance to unlock the satellite industry's full potential LONDON, Jan. 16, 2019 /CNW/ - Isotropic Systems Ltd., the next-generation integrated satellite terminal solution provider, today announced a $14 million Series A round of funding led by Boeing HorizonX Ventures, with participation from WML, Space Angels and Space Capital. "The Series A financing builds on an exceptional year for Isotropic which saw a rapidly growing roster of strategic partners and customers who are poised to unlock the full potential of high-throughput satellites and mega-constellations across all orbits," said John Finney, founder and chief executive officer of Isotropic Systems. "Boeing's investment provides our team access to Boeing experts, testing labs, and other valuable resources to fast-track the deployment of our terminal solutions and to leverage our intellectual property across other space-based and wireless connectivity applications." Leveraging a transformational optical beamforming technology to control the direction of radio waves, Isotropic Systems has developed communication terminal solutions that are significantly more cost-effective, use significantly less power and yet achieve superior performance benefits for the end users. The substantial reduction in cost and power combined with improved performance result in newly-addressable markets and enable mass adoption of satellite communications. "Isotropic's solution allows for increased capabilities at reduced costs for satellite service providers," said Brian Schettler, managing director of Boeing HorizonX Ventures. "This investment accelerates the expansion of space-based connectivity services to the mass market and continues Boeing's leadership in space innovation." This new funding will allow Isotropic to accelerate the commercialization of its technology to benefit its satellite operator customers and to leverage its technology to explore new applications in adjacent markets. Read the Boeing HorizonX Ventures press release for more information regarding this announcement. About Isotropic Systems Isotropic Systems is developing the world's first multi-service, high-bandwidth, low power, fully integrated high throughput terminal designed to support the satellite industry to 'reach beyond' traditional markets and acquire new customers with a full suite of high throughput services. The company's team of industry experts and scientists has pioneered several firsts in satellite terminal design. For more information visit http://www.isotropicsystems.com. Visual media assets available here. About Boeing HorizonX Ventures Boeing HorizonX Ventures targets investments that help scale startup innovation in aerospace. Its portfolio includes companies specializing in autonomous systems, additive manufacturing, energy and data storage, advanced materials, augmented reality systems and software, machine learning, hybrid-electric and hypersonic propulsion and Internet of Things connectivity. About Boeing Boeing is the world's largest aerospace company, the leading manufacturer of commercial airplanes and defense, space and security systems, and a major provider of commercial and government aerospace services. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in more than 150 countries. SOURCE Isotropic Systems Limited (ISL) https://www.newswire.ca/news-releases/isotropic-systems-raises-14-million-in-series-a-funding-led-by-boeing-horizonx-ventures-to-advance-space-based-connectivity-832444227.html