The unending quest to kill Comcast is poised to obtain some renewed funding as an formidable startup readies to safe some new money.
Starry, a Boston-based wi-fi broadband web startup, has filed to lift as much as $125 million in Sequence D funding in accordance with a Delaware inventory authorization submitting uncovered by Pitchbook. If Starry closes the total licensed increase it’s going to maintain a post-money valuation of $870 million.
A spokesperson for the corporate confirmed it had already raised new capital, however disputed the numbers. The corporate has already raised over $160 million from traders together with FirstMark Capital and IAC. The corporate most not too long ago closed a $100 million Sequence C this previous July.
The web startup takes a special strategy from fiber-toting rivals by counting on radio tower and excessive rise-mounted transmitters that dispatch millimeter wavelength indicators to receivers related to a constructing’s present wiring. Clients with Starry’s slick touchscreen routers can whirl via setup, contact customer support, tailor parental controls and conduct pace checks. The corporate claims its resolution can present as much as 200 mbps up/obtain service for simply $50 per thirty days with no knowledge caps or long-term contracts.
The expertise is just not with out its skeptics, whereas laying fiber optic cable has confirmed to be an costly activity for web firms, going over the airwaves with the corporate’s high-frequency radio waves has its personal set of issues. Sign might be affected by harsh climate and obstacles, although Starry has indicated they’re content material with their efficiency in less-than-ideal circumstances.
“We’ve constructed a strong community in Boston and our expertise is working properly,” CEO Chet Kanojia advised us final yr. “We’ve gone via a full yr of seasonality to check numerous climate and foliage circumstances and we’ve been very pleased with our community’s efficiency.”
Final yr marked a serious interval of growth for Starry, which expanded past its house market of Boston and now holds a presence in Los Angeles, New York Metropolis, Denver and DC.
Kanojia beforehand based Aereo, which raised $97 million in VC funding with the dream of letting shoppers watch dwell TV over the net. The corporate proved a bit too disruptive for its time, and was shut down as the results of a Supreme Courtroom case led to by main broadcasting networks.