Satellite services specialist Satcom Global has secured a multimillion-pound funding package to fuel growth plans with a new technology.
The £30m turnover Tyneside firm, which provides tech into the maritime, land and aerospace markets, has the backing of an eight-figure sum from Santander UK to take its AuraNow VSAT product to market. The high performance communications service gives seafarers access to broadband internet and allows ship managers and owners to upgrade or downgrade their service on-demand.
In the past, North Shields-based Satcom has provided third party hardware but the AuraNow technology now changes that and with it, opens up new customers. The 150-strong firm, which also has offices in Tokyo, Brisbane, Singapore, Thailand and the US, now says it is now targeting a 30% increase in revenue next year.
