WeLink’s Services and Recent Funding
WeLink is a startup based in Utah that wants to provide internet services to millions of people who currently do not have a truly high-speed offering from their internet service providers. The company plans to do this by developing a mesh network of wireless base stations that take advantage of the new innovations in 5G internet. This system is already proving to be wildly more effective than the average internet speeds in the United States.
In fact, in the average United States household, download speeds are around 100 Mbps with an upload speed of around 33 Mbps. WeLink, on the other hand, offers download and upload speeds up to a blistering 940 Mbps. These sorts of results have interested a large series of investors who see incredible potential for growth.
Recently, telecom venture capital firm, Digital Alpha Advisors, invested $185 million into the startup. This investment will be put directly into the startup as equity as well as a debt facility that will be exchanged for revenue share. This new funding will help the company continue to launch its services throughout the US.
As it stands, the first cities where the startup’s technology will be used are Henderson, Nevada, Tucson, Arizona, and Phoenix, Arizona. With its newest infusion of capital, WeLink plans to expand into ten different markets over the coming years.
When asked about future cities for the expansion of the startup, co-founder and CEO of WeLink, Kevin Ross, said, “We’re kind of primarily focused on bedroom communities, the doughnut around the urban core in big cities.”
WeLink is taking the latest, advanced 5G technology and uses it to create a faster, more reliable Internet for households. Considering how vital high-speed internet has become in recent years, and especially in 2020, the demand for it in 2021 is at an all-time high. With the startup reeling in some major funding to improve its own technology as well as its multiple-city launch, the company is on its way to success.