Ast Spacemobile Challenges Spacex After Receiving Backing From Google, At&t And Vodafone!

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On September 19, 2023, AST SpaceMobile achieved a groundbreaking milestone by announcing space-based 5G cellular broadband connectivity from everyday smartphones, a world-first achievement. Subsequently, the company secured a strategic investment of $155 million from major industry players, including AT&T, Google, and Vodafone (an existing investor), with plans to increase the funding to $206.5 million.

The investment is pivotal for AST SpaceMobile's commercial network rollout. It involves AT&T and Vodafone purchasing network equipment from the company to support the planned commercial service. Additionally, Google will collaborate on product development, testing, and implementation plans for Android devices.

The investment structure comprises $110 million in 10-year subordinated convertible notes with 5.5% interest, $20 million in revenue commitment from AT&T contingent on the successful launch and initial operation of the first five commercial satellites, and a minimum $25 million revenue commitment from Vodafone, subject to a definitive agreement.

AST SpaceMobile currently operates the largest-ever ...
... commercial communications array in low Earth orbit, the BlueWalker 3 satellite, with plans to support up to 40 MHz and achieve data transmission speeds of up to 120 Mbps. The company holds agreements with over 40 mobile network operators globally, supporting more than 2 billion subscribers, including major players like Vodafone Group, AT&T, Bell Canada, and others.

https://www.techdogs.com/tech-news/td-newsdesk/ast-spacemobile-challenges-spacex-after-receiving-backing-from-google-att-and-vodafone

CEO Abel Avellan highlighted the significance of collaborative innovation with leading wireless companies and expressed enthusiasm about the support from AT&T, Google, and Vodafone. Stakeholders, including Chris Sambar from AT&T and Margherita Della Valle from Vodafone, emphasized the potential of space-based connectivity to bring 5G broadband to remote and rural areas, extending fast and reliable services without requiring specialized equipment.

In summary, AST SpaceMobile's achievement in space-based 5G connectivity has attracted substantial investments from industry leaders, paving the way for global satellite-based wireless networks and enhanced connectivity for smartphone users.