LightSquared, a Reston, VA-based wholesale-only integrated 4G-LTE wireless broadband and satellite network, has raised $265m in funding.
Investors include undisclosed existing and new backers.
LightSquared plans to use these funds for general corporate purposes, includind the construction of its 4G-LTE wholesale network. Over the last 12 months, the company has raised over $2.3bn.
Led by chairman and CEO Sanjiv Ahuja, LightSquared has been developing a wholesale-only nationwide 4G-LTE network integrated with satellite coverage. As a wholesale-only operator, the company will deploy an open 4G network to be used by existing and new service providers to sell their own devices, applications, and services without retail competition from LightSquared.