Tech Company Financing Transactions
Altaeros Energies Funding Round
Altaeros Energies, based in Somerville, received $7.5 million from SoftBank Group.
Transaction Overview
Company Name
Announced On
8/10/2017
Transaction Type
Venture Equity
Amount
$7,500,000
Round
Undisclosed
Investors
Proceeds Purpose
The capital will speed up the launch of SuperTower, a project that uses Altaeros' tethered balloons to bring broadband wireless to rural areas.
Company Information
Company Status
Private & Independent
Industry
Alternative Energy
Mailing Address
444 Somerville Ave.
Somerville, MA 02143
USA
Somerville, MA 02143
USA
Phone
Undisclosed
Website
Email Address
Overview
Altaeros is developing a patent-pending wind turbine that can deploy out of a standard shipping container anywhere in the world. Our turbine harnesses higher altitude winds up to 8x stronger by adapting an inflatable shroud from the aerospace sector, using a conductive tether to bring power to the ground.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chairman
Adam Rein
Chief Executive Officer
Ben Glass
VP - Bus. Development
Joseph Ryan
VP - R & D
Sheri Palazzo
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Prev: 8/10/2017: Roivant Sciences venture capital transaction
Next: 8/10/2017: Braze venture capital transaction
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