Espace Networks, a Miramar company that makes software used by clients in the cruise and airline industries, raised $10 million in a series A round led by Columbia Capital.
The startup plans to use the capital to provide scale its enterprise connectivity services, which helps customers monitor fleets.
Headquartered in Alexandria, Virginia, Columbia Capital is a venture firm focused on investing in the digital infrastructure, enterprise technology and mobility sectors.
“Columbia Capital’s deep knowledge and understanding of the complex and high-value connectivity problems we are solving really stood out," said Espace co-founder and CEO Benny Retnamony.
The company reports it partnered with Fortune 500 clients in the aviation and cruise line sectors and completed multiple product launches over the past year. As part of the funding announcement Espace disclosed that Rupert Pearce, former CEO of Inmarsat, will join its board of directors in the chairman role. Inmarsat is a British telecommunications company and satellite service provider.
Walé Adepoju, founder of IMDC and former chief commercial officer and chief operations officer of Global Eagle Entertainment, will also join the board. Global Eagle is a provider of inflight entertainment services for commercial aviation clients, a key market for Espace.
Espace uses satellite communications to make it easier for transportation clients to communicate across networks and gain insights from data.
“We believe Espace Networks' solutions allow customers to take full advantage of a generational shift in the satellite connectivity market,” said Monish Kundra, a partner at Columbia Capital.
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