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Ligado raises USD 3.85 bln for L-band plans

2020-10-26 08:56:00| Telecompaper Headlines

(Telecompaper) Ligado Networks said it has raised USD 3.85 billion in new capital, which it will use to develop a low-power terrestrial network in the L-Band for 5G and IoT services, and for mission-critical industries. The money was raised from new and existing investors led by JP Morgan Chase & Co. "Today is a great day,"Ligado CEO Doug Smith said. "We've secured our license, we've raised the necessary capital, and we're in a great position to work with the industry to get this spectrum deployed for 5G to support critical industries across the US," the CEO added.

Tags: plans usd raises bln

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