$2.75 Million Already Pre-Closed - Due to Market Demand For AVEALTO Services

LONDON, UNITED KINGDOM, October 17, 2022 /EINPresswire.com/ -- AVEALTO Ltd. has opened a ROUND A funding opportunity for $20 million, to be used to set up factory operations and begin production of Wireless Infrastructure Platform (“WIP”) vehicles after successfully completed its R&D with 4 patents. The company has identified a large existing market in which it can provide services at a lower cost and higher quality that exiting providers.

AVEALTO already has signed commitments for $2.75 million of the $20 million to be raised in this round.

AVEALTO Ltd., a UK-based company, was formed to design, build and operate a fleet of high altitude vehicles which can transparently replace point-to-point satellite services at a lower cost, with higher quality service. Recent improvements in the efficiency of batteries and solar cells now have made it possible to create a commercially viable WIP vehicle optimized to provide telecommunications services.

AVEALTO’s testing with subscale vehicles and positive evaluations from third party experts has provided the confidence to move forward rapidly to begin production in order respond to the demand from high value markets identified by the company.

AVEALTO will provide middle-mile infrastructure services to existing telecom operators. The initial WIP vehicles will be deployed in areas currently served only by high cost satellites. AVEALTO WIP vehicles will be provide cost effective wholesale capacity that will allow telecom operators high quality services in these regions.

"Our management team and investors are dedicated to using WIP technology to profitably eliminate the global Digital Divide" – Walt Anderson - co-founder AVEALTO Ltd, who has co-founded 2 prior telecommunication unicorns.

The AVEALTO management team has decades of experience in developing and managing new telecom technologies. In addition, AVEALTO is working with a number of world class aerospace and telecom partners in the United Kingdom and the rest of the world to bring WIP to market. AVEALTO is a member of GVF Global Satellite Industry Association, and ASIA Pacific Satellite Communication Council.

Thomas A. Olson
AVEALTO
+44 20 3290 9542
thomasolson@avealto.com
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