Elve, a Davis, CA-based provider of millimeter wave amplifier technology, raised $15M in Series A funding.
The round saw participation from a group of investors, including TomEnterprise Private AB, Green Sands Equity, Yu Galaxy, Cambium Capital, and Lockheed Martin Ventures.
The company intends to use the funds to grow its customer base in the space connectivity market and to increase manufacturing capabilities.
Led by Dr. Diana Gamzina, CEO, Elve is a manufacturer of high-efficiency lightweight millimeter-wave power amplifiers that enable wireless connectivity beyond 5G. Integrating advanced manufacturing technologies into vacuum electronic devices, its amplifiers enhance communication with satellite networks and create long-distance ground-to-ground links.
Commenting on the news, Diana Gamzina said: “Closing this funding round represents another significant milestone in our journey, and it will enable us to continue our mission of expanding access to fiber-like wireless connectivity.“
FinSMEs
22/02/2024