SmartSky Networks (founded in 2011, ceased operations August 16, 2024) was a provider of 4G air-to-ground communication systems focused on in-flight connectivity. They utilized patented beamforming technology and unlicensed spectrum to create a high-speed, low-latency network for aircraft. Their key product was their air-to-ground network, and they partnered with companies like Honeywell, Davinci Jets and Clay Lacy Aviation for sales, installation, and service integration. SmartSky's services were targeted towards business aviation, offering passengers and crew high-speed internet for streaming, video conferencing, and other data-intensive applications.
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Apcela signed a definitive agreement to acquire the SmartSky Air-to-Ground (ATG) Network.
SmartSky Networks canceled its contract with Wireless Systems Solutions and blames Wireless Systems Solutions for failing to complete work and delaying the launch of SmartSky's Wi‑Fi service to 2021.
SmartSky Networks is deploying an air-to-ground network across the United States to provide in-flight Wi-Fi.
SmartSky has drawn $50,000,000 of the $75,000,000 loan from BlackRock’s Global Credit Opportunities team.
The final $25,000,000 of BlackRock’s $75,000,000 loan to SmartSky was contingent on SmartSky making substantial progress on its nationwide network rollout.
BlackRock’s Global Credit Opportunities team agreed last year to loan SmartSky $75,000,000 and made the full amount available after SmartSky passed a network deployment milestone.
SmartSky obtained the rights to borrow an additional $25,000,000 from lenders as part of its financing arrangements.
SmartSky Networks raised $104,000,000 to continue deployment of its air-to-ground network.
Of the $104,000,000 raised by SmartSky Networks, $75,000,000 consists of debt from funds managed by BlackRock and equity investments by private equity firms Tiger Infrastructure, WP Global, Platform Partners, and Meritage Investors.
SmartSky Networks has raised close to $350,000,000 in total funding.