Safran acquires stake in SkyFive, a leading provider of high-speed broadband In-Flight Connectivity (IFC) services
SkyFive provides true broadband connectivity services and technology to airlines and other aircraft operators in key aviation markets worldwide, based on its patented Air-To-Ground (A2G) solution that leverages standard mobile network components.
The investment marks Safran Corporate Ventures' first investment in Germany.
Breakthrough for SkyFive's global In-Flight Connectivity services
The investment round enables SkyFive to accelerate its breakthrough into the global in-flight connectivity market. By teaming up with Safran as one of the largest suppliers of aircraft systems globally, SkyFive is in a unique position to drive the paradigm shift towards A2G based true broadband services boosting the airline digitization.
Digitizing tomorrow's airplanes
Safran's investment falls firmly within the company's strategic roadmap focused on expanding digital solutions within the aviation industry:
"This technology cooperation constitutes a key milestone within Safran's strategy in offering aircraft connectivity solutions. Safran is a key player in this area and we see tremendous growth in Air-To-Ground connectivity. SkyFive's cutting edge solution will complement our current offering and set us apart from other industry players in bringing an affordable and increased level of performance to the aircraft", said Sebastien Weber, Safran Aerosystems CEO, new SkyFive board member.
"This successful Series A funding round - during the height of the COVID pandemic - is a strong endorsement of SkyFive's technological leadership and its significant market opportunity. Jointly, we foresee that aviation digitization will accelerate after the pandemic, with our true broadband in-flight connectivity becoming a strategic cornerstone for the entire industry", said Thorsten Robrecht SkyFive CEO.
Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 79,000 employees and sales of 16.5 billion euros in 2020 and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and Innovation roadmap. Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.
Safran Corporate Ventures is Safran's venture capital arm, tasked with funding innovative technology businesses and startups. Since being founded in April 2015, it has contributed financing to ten innovative companies active in sectors related to Safran's businesses (Industry 4.0, onboard components, new materials, new services).
For more information : www.safran-group.com / Follow @Safran on Twitter
SkyFive is a provider that specializes in Air-to-Ground solutions and services for the aviation market. The team has led its Air-to-Ground solution from early research to large-scale commercial implementation over 41 countries in Europe. SkyFive partners with Mobile Operators to deliver true broadband services to airline passengers, enable the massive real-time transfer of aircraft systems data, and provide robust and secure aerial coverage for public safety authorities and novel forms of Urban Air Mobility. The company is headquartered on the Ludwig Boelkow Aerospace and Security Campus in Munich, Germany.
For more information : www.skyfive.world / Follow @SkyFiveW on Twitter
STAR Capital is a European private equity fund manager that was founded in 1999 with the goal of acquiring and developing asset based businesses that provide an essential service to their customers. The company has previously invested very successfully in digital infrastructure and the aviation sector.
For more information : www.star-capital.com