DAVIS, Calif.--(BUSINESS WIRE)--Elve Inc., a leader in innovative millimeter wave amplifier technology, is pleased to announce the successful completion of its Series A round of $15M from a selected group of investors, including TomEnterprise Private AB, Green Sands Equity, Yu Galaxy, Cambium Capital, and Lockheed Martin Ventures.
“We invested in Elve because their product is a step change from the current state of the art, and has the potential to radically enhance speed and accessibility of connectivity,” said Thomas von Koch, one of the founders of private equity firm EQT AB and owner of TomEnterprise Private AB.
“Lockheed Martin Ventures invests in companies that offer leading edge capabilities that can transform how we do business,” said Chris Moran, Vice President and General Manager of Lockheed Martin Ventures. “Elve’s RF power amplifier technology has the potential to enable cost effective, resilient communications in both terrestrial and space domains.”
Elve will use this funding to grow its customer base in the space connectivity market and to increase manufacturing capabilities. “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,” said Dr. Diana Gamzina, CEO at Elve.
Elve is revolutionizing how vacuum electronics are made. Dr. Rich Kowalczyk, Elve’s CTO commented, “Elve’s innovation in millimeter wave TWT-based power amplifier technology offers compactness, efficiency, reliability and, most importantly, high volume production.”
About Elve Inc.
Manufacturer of high-efficiency lightweight millimeter-wave power amplifiers that enable wireless connectivity beyond 5G. Integrating advanced manufacturing technologies into vacuum electronic devices, Elve’s amplifiers enhance communication with satellite networks and create long-distance ground-to-ground links. For more information about Elve, please visit www.elvespeed.com.
