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Mahata Aero Teknologi raises US$21m in capital
MAT says the investment reflects investor confidence in the aviation sector and digital ad industry.
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Mahata will use the capital on pre-financing hardware for the GX aviation system. (Shutterstock/Song_about_summer)
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ireless technology provider Mahata Aero Teknologi (MAT) announced on Monday that it had raised US$21 million in capital, led by Mahata investor Well Vintage Enterprise FZE Dubai.
Mahata will use the capital on pre-financing hardware for the GX aviation system within Garuda Indonesia Group, according to the company’s press statement on Monday.
“This funding will help accelerate the installation of inflight connectivity infrastructure in all Garuda Indonesia Group aircraft,” said Mahata Aero Teknologi president director M. Fitriansyah in the statement.
MAT says the investment reflects investor confidence in the aviation sector and digital ad industry, which has estimated market potential of $400 billion by 2022.
In mid-January, low-cost carrier Citilink Indonesia launched its inflight GX aviation system, the world’s first and only global high-speed inflight connectivity service delivered through a wholly-owned and operated network of high-throughput satellites (HTS).
National flag carrier Garuda Indonesia followed the move by Citilink, its subsidiary, and ordered the same setup for its fleet, with a contract signed in December 2018.
MAT collaborates with Lufthansa Systems for software development strategies as well as with Inmarsat and Lufthansa Technik. Inmarsat, a leading satellite provider, is supplying broadband internet for the GX aviation network, while Lufthansa Technik is providing the hardware and is responsible for the installation design and certification. (bbn)
