Pivotal Commware, a US-based developer of 5G infrastructure technology, has picked up $50m for its series C round featuring the owner of mobile satellite operator Globalstar and financial services group Fidelity.
Thermo Companies, the majority-stake owner of Globalstar, participated in the round alongside Fidelity-affiliated investment firm Devonshire Investors.
Tracker Capital Management led the round, which was filled out by DIG Investment, Lux Capital and Bill Gates, the co-founder of software producer Microsoft.
Pivotal was spun out of intellectual property-focused investment firm Intellectual Ventures in 2017. The company develops communications platforms based on holographic beam forming technology, which enable mobile network providers to deploy 5G networks.
The series C capital will be used for product support, distribution and research and development activities.
Pivotal received $14.7m from undisclosed investors for its series B round in 2018, according to a regulatory filing.
Thermo Companies and DIG Investment co-led Pivotal’s $17m series A round in 2017, with investments from Lux Capital, Barry Sternlicht’s family office, Bill Gates and undisclosed investors.