GSMA Intelligence

Luxembourg, 1 September 2022 – OQ Technology, a global 5G IoT (Internet of Things) satellite operator, has closed a 13 million Euro Series A funding round led by Wa’ed Ventures, the ventue capital arm at Aramco (the Saudi oil and gas company), and Phaistos Investment Fund, managed by 5G Ventures in Greece.

A WEEK IN IoT – 5G is starting strong, says Huawei. The company’s deputy chairman, Ken Hu, told its annual Mobile Broadband Forum (#MBBF) in Zurich, Switzerland last week that 5th Generation mobile communications “arrived faster than expected,” and that there are now 40 carriers in more than 20 countries supporting 136 different 5G-enabled devices.