Safran Corporate Ventures, an investment fund of Safran, has invested in SkyFive as part of the company’s Series A investment round.
The investment round was led by Safran Corporate Ventures together with STAR Capital, a European private equity fund manager, and is its first investment in Germany.
SkyFive provides true broadband connectivity services and technology to airlines and other aircraft operators in key aviation markets worldwide, based on its patented Air-To-Ground (A2G) solution that leverages standard mobile network components.
The investment round enables SkyFive to accelerate its breakthrough into the global in-flight connectivity market. By teaming up with Safran, SkyFive is in a unique position to drive the paradigm shift towards A2G based true broadband services boosting the airline digitisation.
Safran’s investment falls firmly within the company’s strategic roadmap focused on expanding digital solutions within the aviation industry:
“This technology cooperation constitutes a key milestone within Safran’s strategy in offering aircraft connectivity solutions. Safran is a key player in this area, and we see tremendous growth in Air-To-Ground connectivity. SkyFive’s cutting edge solution will complement our current offering and set us apart from other industry players in bringing an affordable and increased level of performance to the aircraft”, said Sebastien Weber, Safran Aerosystems CEO, new SkyFive board member.
“This successful Series A funding round – during the height of the COVID pandemic – is a strong endorsement of SkyFive’s technological leadership and its significant market opportunity. Jointly, we foresee that aviation digitisation will accelerate after the pandemic, with our true broadband in-flight connectivity becoming a strategic cornerstone for the entire industry”, said Thorsten Robrecht SkyFive CEO.
