WeLink, a Lehi, Utah-based fixed-wireless broadband provider, raised $185m in financing.
Digital Alpha, a premier alternative asset manager focused on digital infrastructure, will make the investment that includes an outcome-based financing structure that will accelerate network expansion and subscriber acquisition. With this deal, Digital Alpha has appointed Rick Shrotri and Neil Sheridan to the board.
The company intends to use the funds to expand to the Las Vegas metro area, into two additional metro areas, Phoenix and Tucson, Arizona, in Q2 2021, with seven additional markets slated for future launches and sign new partnership opportunities with Cisco.
Founded in 2018 by wireless industry veterans Kevin Ross and Ahsan Naim, WeLink provides high-speed broadband access to homes and businesses at up to gigabit speeds, connecting the unconnected and expanding and improving access. The company extends the reach of fiber into residential and commercial areas using millimeter wave (mmWave) technology (one of the key wireless technologies used as part of 5G), 802.11ay silicon, and modern network routing approaches such as Open/R.