Loon, the Alphabet subsidiary developing high-altitude internet connectivity systems, has raised $125m from SoftBank-backed joint venture HapsMobile.
Loon, a US-based subsidiary of technology conglomerate Alphabet that uses balloons to connect users in remote places to the internet, secured $125m today from HapsMobile, a high-altitude telecommunications infrastructure developer.
The investment forms the basis of a collaboration agreement that also gives Loon the right to invest $125m in HapsMobile, a joint venture formed by telecommunications conglomerate SoftBank and unmanned aerial vehicle developer Aerovironment.
Loon deploys high-altitude balloons in the stratosphere, the layer above the troposphere where the majority of…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
