Two new US satellite communications ventures pursuing internet-related markets have secured additional funding.
Lanham, Maryland-based Final Analysis has chosen a General Dynamics/L-3 Communications team to supply the payload for its Faisat global wireless data system. The $50 million deal includes an equity investment by L-3.
GD, an investor, is overall system integrator for the ground segment. Raytheon, also an investor, is building the ground network. Faisat is due to begin digital data and messaging services in 2002, using low-Earth orbit satellites.
Another new venture, iSky, has raised $137 million in its second round of equity financing. The Denver, Colorado-based company, which plans to offer broadband internet access via satellite, has raised half the $750 million needed for its initial phase of operations. Set to begin in late 2001, the first phase will consist of its first satellite, iSky 1, and a Ka-band payload on Telesat Canada's Anik F2 communications satellite.
Source: Flight International
