Communications technology company Modesat Communications has announced a successful Series A funding round which netted the company some €1.85 million. The three investors for the round were Modesat’s parent company, Ambient Sound Investments, as well as theEstonian Development Fund and Bellus.
Modesat’s market entry activity also contributed additional funding. The financing is aimed at facilitating sales negotiations with equipment providers and integrating new equipment into customer products.
Modesat Communications (www.modesat.com)
Tallinn-based Modesat Communications is an Estonian developer of communication technology aimed at both wired and wireless communications systems. The company specializes in the design and deployment of commercial communications systems based on digital microwave, millimeter wave, and satellite technologies. The combination of low-cost materials and high-efficiency output enable Modesat to provide communication systems that are both fast and reliable.
In addition to its Estonian headquarters, the company maintains R&D facilities in the U.S. and Belarus, as well as a sales office in Israel.
Ambient Sound Investments (www.asi.ee)
Ambient Sound Investments is a venture capital and private equity investment firm founded in 2003 by four of Skype’s founding engineers. The firm focuses on technology startups with an emphasis on social media, mobile applications, and software, and which are based in Eastern Europe, Asia, or Russia. A vision to become a global player in their chosen industry is a must for all Ambient Sound portfolio companies.
Ambient Sound currently manages total assets of €100 million distributed among 30 portfolio companies in Asia, Europe, and the U.S.