Allied Minds - FW accelerates Microsoft and AWS partnerships
Federated Wireless has completed a $13.7m Series C extension round to accelerate expansion of its connectivity-as-a-service partnership with Microsoft Azure and Amazon Web Services, first announced in February 2020. Pennant Investors, an existing investor, and Allied Minds each invested $6.85m to accelerate the roll-out of the leading private 4G/5G wireless cloud solution as well as to enable expansion of the spectrum controller for private wireless networks into the 6GHz band for 5G services. This extends the total Series C raise to $65m. Following the investment, Allied Minds owns 36.6% of Federated Wireless on a fully diluted basis (43.1% undiluted). We calculate Allied Minds’ holding in Federated Wireless alone to be worth 26.3p (fully diluted) versus the closing share price on 20 April 2020 of 24.7p.Allied Minds is an intellectual property commercialisation company focused on venture creation within the life science and technology sectors. Co. supports its businesses with capital, management, and shared services. Co.'s operations are organised in two types of activities: early stage companies, which consist of subsidiary businesses that are in the early stage of their lifecycle characterised by incubation, research and development activities; and commercial stage companies, which consist of subsidiary businesses that have substantially completed their research and development activities and that have developed one or more products that are actively marketed.
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