Aidan Daly
Millimeter wave power amplifier maker Elve has announced the completion of its Series A funding round and raising $15 million from an investor group led by TomEnterprise Private AB and joined by Lockheed Martin Ventures.
The Davis, California-based firm company said Thursday it will use the fresh funds to grow its customer base in the space connectivity market and increase manufacturing capabilities.
Diana Gamzina, CEO of Elve, said, “Closing this funding round represents another significant milestone in our journey, and it will enable us to continue our mission of expanding access to fiber-like wireless connectivity.”
“Lockheed Martin Ventures invests in companies that offer leading edge capabilities that can transform how we do business,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. He notes the potential of Elve’s RF power amplifier technology to enable resilient communications in terrestrial and space domains.
