Galgus Raises €4M to Address the High Demand for WiFi Projects in its International Expansion Backed by GoHub Ventures
The Sevillian smart WiFi technology company accelerates its international expansion due to the high demand for WiFi projects backed by the company’s lead investors GED Capital, Mundi Ventures and GoHub Ventures, and anticipates a larger capital raise by the end of the year.
Galgus, a Sevillian company specialised in the development of intelligent WiFi technology that optimises network performance and provides advanced geolocation analytics, is accelerating its growth by raising 4 million euros in funding.
Galgus technology is present in different scenarios all over the world. From planes and trains, to foootball stadiums, shopping malls, hotels, schools, convention centres, businesses, rural areas and many more.
This financial support comes from what were already Galgus’ main investors: GED Capital (through its Conexo Ventures fund), Mundi Ventures and GoHub Ventures, the corporate venturing arm of Global Omnium, demonstrating the clear commitment to the company’s strategy.
This 4 million is a down payment on a larger financing round that the company expects to close by the end of 2022. In this way, it is getting a very important boost in order to provide its international expansion initiatives with greater resources and thus be able to respond positively to the strong demands of its markets, especially in the USA.
In fact, 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. Galgus has also reached 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.
Beyond European borders, Galgus has offices in Latin America (Colombia and Peru), and in the United States, specifically in Boston. This is a declaration of intent regarding its ambitious plan to support digital engagement and help close the digital divide in these areas.
“Digital transformation is opening up new opportunities where high quality WiFi connectivity is in high demand. With this boost, we will be able to capture a high volume of international business that will allow us to position ourselves 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 sector. We have to take advantage of this to accelerate our international expansion”. José González, CEO and Co-founder of Galgus, points out.
All this is a great recognition of the work being done by Galgus, 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 a more reliable WiFi connection in public and private networks.
Galgus also offers a differentiating and award-winning Location Analytics technology, recognised by Gartner for its disruptive potential worldwide. It provides highly accurate device counts and movement patterns for all devices in range of the network, that provide enterprises and cities with the business intelligence needed to optimise their digital engagement efforts.
“Galgus is the right example of the right combination of experience and disruptive talent, essential traits to be at the forefront of new global technologies. A Spanish Startup to demonstrate our capabilities in all world markets that deserves our full support”, highlights Francisco Marín, member of the Board of Galgus, partner of CONEXO, National Award for Innovative Trajectory and former Director General of CDTI.
“Galgus’ innovative technology is perfectly targeted to optimise the skyrocketing growth of WiFi data. The US and other international markets can greatly benefit from this disruptive technology, which can make Galgus a world leader in delivering a better WiFi experience to users,” said Rajeev Singh-Molares, Galgus board member, founder of Mundi Ventures and formerly vice president of Alcatel-Lucent.”
“From GoHub Ventures we are betting on Galgus with an accelerated team, product and sales. With this round, it will be able to expand its leadership position in Spain, but above all in the American market as a global standard for intelligent WiFi”, says Patricia Pastor, Managing Director of GoHub Ventures.
With this round of investment, Galgus is setting new growth targets from which it expects to reap new successes, as well as consolidate its existing customers worldwide.