The never-ending adventure to kill Comcast is poised to collect some renewed investment as an ambitious startup readies to secure some brand-new money.
Starry, a boston-based wireless broadband internet startup, has filed to elevate up to $125 million in successions D funding according to a delaware stock authorization filing uncovered by PitchBook. If Starry closes the full legitimated
elevate it will hold a post-money valuation of $870 million.
a spokesperson for the company confirmed it had already raised brand-new capital, but disputed the numbers. The company has already raised over $160 million from investors, including FirstMark Capital and IAC. The company most recently closed a $100 million successions C this past July.
The internet startup takes a disparate reach from fiber-toting competitors by relying on radio tower and high-rise-mounted transmitters that deliver millimeter wavelength signals to receivers connected to a construction’s existing wiring. Customers with Starry’s slick touchscreen routers can whirl through setup, contact customer service, tailor parental controls and conduct speed tests. The company claims its solution can provide up to 200 Mbps up/download service for just $50 per month with no data caps or long-term contracts.
The technology is not without its skeptics; while laying fiber-optic cable has proven to be an extortionate task for internet companies, going over the airwaves with the company’s high-frequency radio waves has its own set of problems. Signals can be affected by harsh weather and obstacles, though Starry has indicated they are content with their performance in less-than-ideal conditions.
“We’ve built a robust network in Boston and our technology is working well,” CEO Chet Kanojia told us last year. “We’ve gone through a full year of seasonality to try-out various weather and foliage conditions and we’ve been very cheerful with our network’s performance.”
Last year marked a major period of expansion for Starry, which expanded beyond its home mart of Boston and now holds a presence in Los Angeles, brand-new York City, Denver and DC.
Kanojia previously founded Aereo, which raised $97 million in VC funding with the dream of letting consumers watch live TV over the web. The company proved a tiny too disruptive for its moment, and was shut down as the result of a supreme Court case brought about by major broadcasting networks.