Sunday, February 6, 2011

Aircell Raises $35 Million for Expansion

Aircell, which provides "Gogo" inflight broadband service, raised $35 million from its existing investors and management team. The company is now serving nine of the top 11 U.S. airlines and is available on nearly 6,000 business aircraft. The financing will be used to fund growth in both commercial and business aviation markets.

Currently, Gogo Inflight Internet Service is available on more than 1,050 commercial aircraft operating 3,800 flights daily in the U.S.

"2010 was the year Inflight Internet went mainstream and Aircell established its leadership in this exciting new mobile Internet venue," said Michael Small, Aircell President and CEO. "Since securing our exclusive spectrum license in 2006, we've raised more than $500M." Existing investors include Ripplewood Holdings, a major private equity group, Blumenstein/Thorne Information Partners and other investment entities associated with investor/entrepreneur Oakleigh Thorne.

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