London, 10 March 2023.- Forsway, a Swedish-based satellite broadband provider, announced on the 9th of March that Rymdkapital, the first Nordic investment firm dedicated to European space start-ups, has endorsed Forsway with an unspecified amount of new funding and support. This new collaboration is part of Rymdkapital’s vision to provide capital, support and networks for new business areas for emerging new space start-ups in Europe aiming for a global market.
Rymdkapital was established in 2022 and has invested in other companies such as the US-Swedish rocket launcher venture Pythom Inc and the Swedish investment company Space Cowboys AB.
“The Nordics region proudly boasts a wide range of future-oriented technologies in a wide range of industries”, says Ted Elvhage, Managing Partner at Rymdkapital. “With both the EU and ESA encouraging a stronger European eco-system and investments to boost commercialization of new space opportunities, we are excited to invest both capital and resources in satellite broadband technology pioneer Forsway.”
Forsway products and technology solutions combine satellite with existing telecom networks to enable broadband services for large demographics of users lacking reliable internet access. Forway’s approach is to eliminate the need to deploy additional network infrastructure. With new support and funding from Rymdkapital, Forsway will aim to remove the complexity of rolling out satellite broadband to regions with limited infrastructure and monetize unused operator bandwidth.