- Galgus is accelerating its international expansion due to the high demand of WiFi projects, raising 4 million euros, and anticipating a larger capital raise by the end of the year.
- The capital round has been leaded by GED Capital (through their venture capital Conexo Ventures), Mundi Ventures and GoHub.
- With this new investment, Galgus will strengthen its international expansion in Europe, North America, and LATAM.
Galgus is accelerating its growth by raising 4 million euros in funding.
Galgus’ core technology is deployed in many different venues. From aircrafts and trains to football stadiums, shopping malls, hotels, schools, convention and businesses centres, or rural areas, among other locations.
Because of their innovative solutions and the great success Galgus has been globally demonstrating, their previous main investors GED Capital (Conexo Ventures fund), Mundi Ventures and GoHub Ventures (the corporate venturing of Global Omnium), are once again trusting and financially supporting the company and their expansion plans.
The 4 million investment round is a down payment from a larger round that the company expects to close by the end of 2022. The funds will be used to finance and accelerate their international expansion initiatives as well as to respond positively to the strong demand Galgus is receiving from core markets like North America.
Galgus has already made significant progress towards becoming a European benchmark in WiFi technology, with major projects in countries such as the United Kingdom, Italy, and Spain. Reaching partnership agreements with major telecommunications companies, such as Netoip and Around People in Italy, Telefónica and Cellnex in Spain, Wavesight and Icomera in the United Kingdom.
With headquarters in Europe, Galgus has offices in Latin America (Colombia and Peru), and the United States (Boston). A reflection of their ambitious plans to provide a seamless networking user experience leaded by a pioneer offer.
“Digital transformation is opening up new opportunities where high quality WiFi connectivity is in high demand. With these funds, we will be able to capture a high volume of international business that will position us as a global benchmark in the sector. Thanks to our 9 patents, we have a clear competitive advantage, especially in geolocation analytics, well ahead of the leading brands in the market. We will leverage this new funding to accelerate our international expansion”, points out José González, CEO and co-founder of Galgus.
This achieved milestone is a great recognition of Galgus achievements, which has already resulted in 9 international patents and a proprietary technology (Cognitive Hotspot Technology or CHT) that optimises the performance of WiFi networks through the application of artificial intelligence, offering more reliable WiFi connections in public and private networks.
Galgus also offers a differentiated and award-winning Location Analytics technology, recognised by Gartner for its disruptive potential worldwide. With highly accurate device counting capabilities and movement patterns in the range of a network, that provides enterprises and smart cities the business intelligence needed to optimise and transform the user experience and their connectivity.
“Galgus is the right example of the right combination of experience and disruptive talent, essential traits to be present at the forefront of the new global technologies. A Spanish start-up ready to demonstrate our capabilities around the world that deserves our full support”, highlights Francisco Marín, member of the Board of Galgus, partner of CONEXO and former Director General of CDTI.
“This investment and Galgus’ innovative technology comes in a perfect timing to optimise the skyrocketing growth of the WiFi market. North America and other international markets can greatly benefit from this disruptive technology, that can make Galgus become a world leader delivering a better WiFi and Analytics capabilities, with the user experience as the centre of their strategy” said Rajeev Singh-Molares, Galgus board member, founder of Mundi Ventures and formerly vice president of Alcatel-Lucent.
“From GoHub we are fully supporting Galgus, because of their experienced team, their innovative product, and growing sales. With this investment round, Galgus will accelerate their leadership and positioning in Europe, and in the Nort American market as a global standard for intelligent WiFi”, says Patricia Pastor, Managing Director of GoHub.