CEO change for AccelerComm as it closes $15m funding round

5G satellite communications products and technology provider AccelerComm has announced it has closed a funding round totalling $15m and appointed David Helfgott as its CEO.

Experts in specialised radio access network (RAN) applications, AccelerComm says its core mission is to transform the next generation of wireless communications with “innovative, world-leading” IP that delivers ultra-high performance and error-resilient 5G to meet the unique demands of satellite-based 5G networks. The company’s portfolio ranges from physical layer services to customisable signal processing components, implemented on next-generation silicon, artificial intelligence (AI) engines, field-programmable gate array and application-specific integrated circuit-ready intellectual property cores including space-hardened platforms.

The £15m round was led by IP Group – including its Parkwalk and Hostplus managed funds – with support from IQ Capital, Swisscom Ventures’ digital transformation fund and Bloc Ventures.

“Having supported AccelerComm since inception, we’re delighted to see the company attract an experienced CEO and close a new funding round, supported by additional blue-chip investors,” said Lee Thornton, deeptech partner at IP Group. “AccelerComm has one of the world’s leading technologies for fast and efficient communications in the nascent low-earth orbit satellite market. The company is well-positioned for growth, with a market that is projected to be worth $100bn within a decade, and we look forward to future progress.”

AccelerComm says the new capital will be used to further develop and accelerate deployments of its 5G satellite communications products and technology that enable direct-to-device communications between phone handsets and space-based satellite networks. It will also support ongoing implementations with operator and satellite network customers, and partners such as Lockheed Martin, which is using AccelerComm’s services in its advanced regenerative 5G NR NTN base station, set to be the first regenerative 5G NTN payload in orbit.

Assessing what AccelerComm’s cash injection means for both the company and the space comms industry, Henny Sands, head of telecommunications at the UK Space Agency, said the non-terrestrial network convergence of satellite and mobile technology was reshaping the future of connectivity, and that companies like AccelerComm were helping to drive that transformation.

“This investment marks a significant step towards achieving universal mobile coverage through space-based 5G,” he said. “The UK Space Agency is proud to support pioneering businesses developing world-class and unique capabilities, and we welcome AccelerComm’s continued innovation in this critical sector.”

David Helfgott will be at the forefront of driving such innovation, and will also be responsible for accelerating customer and partner traction in the US and globally for AccelerComm’s technology.

Boasting more than 20 years of leadership experience across the wireless and satellite communications markets, he also most recently held the position of CEO at inflight comms firm SmartSky Networks, which majored in air-to-ground (ATG) 4G LTE/5G networks for aviation.

“There is growing momentum in the mobile communications industry towards using 5G enabled satellites to augment existing coverage and capacity delivered by terrestrial networks,” he said.

“AccelerComm’s unique technology and acumen position us at the centre of this shift, delivering a critical building block required to provide best-in-class 5G services from space. The recent announcement of our 5G NTN solution has led to great interest from mobile operators and satellite networks from around the world.”