US-based fixed-wireless broadband provider WeLink has received $185m in funding from Digital Alpha Advisors, an infrastructure-focused asset manager affiliated with networking technology producer Cisco.
WeLink offers a broadband internet service that utilises fixed-wireless technology, which it claims means it can provide far higher broadband speeds while charging less than competitors.
Kevin Ross, WeLink’s chief executive, said: “More than 77% of US consumers have only one choice of broadband provider when they want internet access speeds faster than 100 Mbps.
“WeLink is addressing this challenge by expanding our fairly-priced, fixed-wireless broadband solution to new markets, giving consumers greater freedom of choice in broadband access scaling to gigabit speeds. This is even more important today as the covid pandemic has changed the balance of work and school from home.”
The deal will make Digital Alpha the largest external investor in WeLink, which has not revealed details of past funding. The firm’s founding managing partner, Rick Shrotri, and principal Neil Sheridan are taking seats on WeLink’s board of directors in conjunction with the transaction.
John Chapman, chief technology officer of Cisco’s broadband business, said: “We are thrilled to take this next step with WeLink to enable the future of fixed-wireless broadband. Their approach of using fixed-wireless to provide high-speed broadband internet access helps to drive digital transformation and accelerate an inclusive future for all.”
