SmartSky raises $29.5M in additional capital across three filings

RESEARCH TRIANGLE PARK – SmartSky Networks disclosed the company had raised more than $29.5 million across three registered company names, building on prior disclosures in 2020 of $41 million and in 2021 of nearly $70 million.

The company, which provides an air-to-ground communications platform for the aviation industry, opened the company’s first coverage zone last year.

According to one of the SEC filings, the company has raised $26.893,700 in equity from six investors. The round could increase to as much as $50 million, according to the filing, which is for an entity called SmartSky New HoldCo, LLC.

That company is the same firm that raised the $41 million in 2021, according to the two filings.

SmartSky Networks lands nearly $70M as it begins rollout of air-to-ground network

The second filing includes capital from four investors for a current total amount of $907,700 in equity, with a total possible offering amount of $7,074,000. This filing states the business entity of Series B SmartSky I, LLC, and lists the same address as the filings for SmartSky New HoldCo, LLC.

And the third filing, for an entity named Series B SmartSky II, LLC, also at the same address, is for $1,726,400 in equity from six investors.

Richard C. Rowlenson signed the two filings that include “Series B” in the entity name. Rowlenson is listed as the secretary of SmartSky Holdings, LLC, manager of the issuer.

The first filing is signed by David Helfgott, CEO. All three filings were dated June 13.

SmartSky signed a deal with flyExclusive earlier this year, according to a statement on the company’s website.

The company did not respond immediately to a request for comment.