Elve Inc., a company that develops high-efficiency lightweight millimeter-wave power amplifiers, has secured $15M in Series A funding from a group of investors, including Lockheed Martin Ventures and TomEnterprise Private AB.
The company’s power amplifiers enable wireless connectivity beyond 5G, by integrating advanced manufacturing technologies into vacuum electronic devices. Elve’s products can enhance communication with satellite networks and create long-distance ground-to-ground links, offering fiber-like performance and reliability.
The funding round was led by TomEnterprise Private AB, a private investment firm owned by Thomas von Koch, one of the founders of EQT AB. Other investors include Green Sands Equity, Yu Galaxy, Cambium Capital, and Lockheed Martin Ventures, the strategic investment arm of Lockheed Martin Corporation.
Thomas von Koch said, “We invested in Elve because their product is a step change from the current state of the art, and has the potential to radically enhance speed and accessibility of connectivity.”
Chris Moran, Vice President and General Manager of Lockheed Martin Ventures, said, “Lockheed Martin Ventures invests in companies that offer leading edge capabilities that can transform how we do business. Elve’s RF power amplifier technology has the potential to enable cost effective, resilient communications in both terrestrial and space domains.”
Elve will use the new capital to expand its customer base in the space connectivity market and to increase its manufacturing capabilities. The company is also planning to launch its first commercial product, a 100W Ka-band power amplifier, later this year.
Dr. Diana Gamzina, CEO at Elve, said, “Closing this funding round represents another significant milestone in our journey, and it will enable us to continue our mission of expanding access to fiber-like wireless connectivity.”
Dr. Rich Kowalczyk, Elve’s CTO, said, “Elve is revolutionizing how vacuum electronics are made. Elve’s innovation in millimeter wave TWT-based power amplifier technology offers compactness, efficiency, reliability and, most importantly, high volume production.”