Richmond, Virginia, July 05, 2022 (GLOBE NEWSWIRE) — Virginia Venture Partners, the fairness funding program of Virginia Innovation Partnership Corporation (VIPC), as we speak introduced an funding in Lynk. Falls Church, Va.-based Lynk offers satellite tv for pc broadband connectivity from straight to clients’ present normal cell phones; even in probably the most remoted areas, without having to buy a brand new gadget. Lynk will use this funding to speed up the corporate’s preliminary business service, deliberate for late 2022. Lynk will present common connectivity all over the place in Virginia, and the remainder of the world, together with probably the most rural areas.
As reliance on cell phones continues, customers require service that ensures fixed and constant connectivity that works it doesn’t matter what occurs. About 15% of the world’s 5.2 billion cell phone customers are disconnected at any single level in time, that means that billions of individuals lack digital entry to knowledge, info and markets that energy fashionable digital provide chains. This lack of digital connectivity negatively impacts all the pieces from household earnings to emergency communication providers.
Lynk makes use of small satellites and patented know-how to present broadband protection to each location in the world, offering connectivity to obtain crucial and life-saving communications, equivalent to 911 or emergency alerts. Lynk additionally offers instantaneous backup in the occasion of a pure catastrophe, equivalent to tornados, or hurricanes. With Lynk, the telephone in your pocket — with no modifications — will keep linked all over the place.
“Six years ago, most people thought it was impossible to use satellites to connect with existing mobile phones. Today it is proven technology. Lynk has connected thousands of standard mobile phones here on the east coast of the United States, including Virginia,” says Charles Miller, CEO and co-founder of Lynk. “A lack of reliable connectivity remains a barrier to many, not only around the world, but in remote and rural parts of Virginia. We are proud of what Lynk has achieved to date on the journey to broadband connectivity for every human on earth. We thank VIPC’s Virginia Venture Partners for the investment to help continue our growth and mission to solve the problem of universal connectivity by leveraging the American entrepreneurial spirit.
Lack of connectivity results in fewer opportunities for burgeoning entrepreneurs to access the banks and credit needed to grow their businesses. Lynk’s affordable universal mobile connectivity can also jump-start economic growth and boost innovation and entrepreneurship for people without access to a reliable global communication network.
“At a time when the mobile phone is one of the most important devices to billions of people worldwide, reliable connectivity is still not available to everyone. Lynk’s team of professionals in the aerospace and wireless service industry is dedicated to providing accessible cell coverage for all,” says Tom Weithman, VIPC Chief Investment Officer and Managing Director of Virginia Venture Partners. “Providing universal connectivity allows all people, even in rural and remote communities, to connect and thrive by participating in local and global economies. We are thrilled to be a partner for Lynk’s growth and continued success, and are confident that their impact will be felt in communities across Virginia as well as throughout the world.”
About Lynk
In 2022, Lynk will present the world’s first business satellite tv for pc direct-to-mobile-phone service, enabling reasonably priced, dependable cell phone connectivity to everybody, all over the place throughout the globe. Founded in 2017 by veteran area and telecoms leaders, the Lynk group invented, patented, and proved {that a} satellite tv for pc may function a “cell tower in space” and join straight to a typical cell phone on Earth – a technological feat verified by impartial third events. Today, Lynk is the one firm in the world to have efficiently despatched textual content messages to and from area by way of unmodified cell units. By partnering with Lynk by way of a easy roaming settlement, a cell community operator opens the door to untapped markets, provides subscribers peace of thoughts with ubiquitous connectivity, and offers a pathway to financial prosperity for billions of the world’s residents. For extra info, go to www.lynk.world, or comply with Lynk on Twitter or LinkedIn.
About Virginia Venture Partners
Virginia Venture Partners is the fairness funding program of VIPC that makes seed-stage fairness investments in Virginia-based know-how, clear vitality, and life science firms with a excessive potential for attaining speedy development and producing a major financial return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $32.4 million in capital throughout greater than 250 portfolio firms, together with 17 firms in designated Opportunity Zones. Virginia Venture Partners’ funding selections are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This impartial, third-party panel has drawn from the experience of main regional entrepreneurs, angel, and strategic buyers, and enterprise capital corporations equivalent to New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For extra info, please go to www.virginiaipc.org/vvp.
About Virginia Innovation Partnership Corporation (VIPC)
Connecting innovators with alternatives. The nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage financial growth driver in the Commonwealth that leads funding, infrastructure, and coverage initiatives to help Virginia’s innovators, entrepreneurs, startups, and market growth methods. VIPC collaborates with native, regional, state, and federal companions to help the growth and diversification of Virginia’s economy.
Programs embrace: Virginia Venture Partners (VVP) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Smart Communities | Unmanned Systems | Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For extra info, please go to www.VirginiaIPC.org. Follow VIPC on Twitter, LinkedIn, and Facebook.
- VIPC’s Virginia Venture Partners Invests in Lynk to Provide Reliable Cellular Coverage by way of Satellites
- VIPC’s Virginia Venture Partners Invests in Lynk to Provide Reliable Cellular Coverage by way of Satellites
