UAVenture Capital announces a spin-off of FreeFall Aerospace to form a new 5G company: FreeFall 5G
TUCSON, Ariz., May 18, 2020 /PRNewswire/ -- UAVenture Capital (UAVC), the Tucson-based firm that invests exclusively in University of Arizona science and technology, and DVI Equity Partners, the technology investment arm of Tucson's Diamond Ventures, today announced that two of their portfolio companies, FreeFall Aerospace and ED2, have come together to create a new company called FreeFall 5G to capitalize on the explosive growth of the 5G market.
FreeFall Aerospace was one of UAVC's first investments in 2018 and has rapidly developed antenna systems designed to revolutionize communication both in space and on Earth. FreeFall has demonstrated an ultra-lightweight inflatable satellite antenna, steerable balloon-borne communications, and low-cost fixed and mobile ground-based systems. UAVC's investment thesis believed that many of FreeFall's patented designs could also lead to new antenna systems for the 5G industry.
"This new company has the potential to be a tremendous success, particularly as the importance of 5G technology grows," said University of Arizona President Robert C. Robbins. "I am very proud to see this kind of partnership grow out of innovative thinking from the University of Arizona, and I am grateful to UAVenture Capital for their leadership in making sure this outstanding technology will be available to the public. I am looking forward to seeing what FreeFall 5G will accomplish."
ED2 which is focused on "Making 5G Happen TM" was DVI Equity Partners first Tucson-based investment. ED2's implementation of the FreeFall Aerospace antenna concept led to the prototype unveiled at 5G Mobile World Congress last year, and that system will now be enhanced for commercial demonstration this summer. The new FreeStar5G antenna will have greater range and flexibility than any 5G antenna system currently on the market yet draws significantly less power and is about the size of a desktop computer.
"We believe this small and powerful antenna will revolutionize 5G communication," said Fletcher McCusker, CEO and Founder of UAVenture Capital. The original concept was developed by Dr. Chris Walker along with Dr. Marwan Krunz, who in addition to their work at FreeFall are also professors at the University of Arizona. FreeFall teamed with ED2 in 2018, and under ED2's leadership the two companies were able to bring the concept to reality. "Based on what we all felt was a game changing technology for 5G, it made sense to form a spin-off to operationalize the antenna," said Bob Griffin Managing Partner at DV Equity Partners.
"We always knew that by working closely with the exceptional technical team at ED2 we could go farther, faster than we could on our own. Fielding an improved industrial-ready FreeStar5G that provides state-of-the-art capability will help achieve our vision of revolutionary connectivity for people, places, and things through our novel antenna solutions. The new product development and license agreements now in place with ED2 make FreeFall 5G well-positioned to enter the global 5G race." – Doug Stetson, CEO of FreeFall Aerospace.
"Amazing that two small companies, from Tucson, Arizona, can transform the way 5G communication gets rolled out and by default make us a 5G technology region." Sergio Cardona, CEO of ED2.
About FreeFall Aerospace:
FreeFall is developing revolutionary new antenna technology for ground, air, and space. Their innovative spherical antennas are drawing interest from a wide variety of commercial and government organizations, offering wide field of view, electronic steering, and low mass to dramatically simplify and improve satellite communications. The company's unique antennas for the coming 5G wireless world, now transitioned to FreeFall 5G, are unlike anything else on the market and enable high-frequency, steerable communications for Smart Cities, connected vehicles, and the Internet of Things. FreeFall was founded in Tucson as a spin-off from the University of Arizona and maintains a close connection with UA faculty and supporters. FreeFall Aerospace was named as "Innovator of the Year – Start-Up Company" during the 16th annual Governor's Celebration of Innovation Awards presented in Phoenix Arizona by the Arizona Technology Council and the Arizona Commerce Authority. The Innovation category is awarded to a company that has achieved "significant success, technical innovation or scientific achievement in the past calendar year."
About ED2:
Electronic Design and Development Corporation (ED2), founded in 2018, builds 5G infrastructure hardware for next generation telecommunications. ED2 products include integrated 5G wireless solutions, 5G filters and custom radio frequency electronics. Our mission is to give wireless network providers the critical and cost-effective components required for expansion and competitiveness. The company has 100+ combined years of radio frequency (RF) radio, radar, software, and wireless systems experience.
About UAVC:
Formed in 2017 to invest exclusively in University of Arizona led technology, products and science, UA Venture Capital (UAVC) is an early stage investment fund designed to advance and commercialize U of A led inventions. UAVC and the U of A partner with faculty, students, and alumni to bring to market new technologies that will advance communication, science, pharmaceuticals, agriculture, sustainability, software, and engineering industries. Founder Fletcher McCusker is a U of A graduate, alumnus of the year and was awarded an honorary doctorate in 2015. Michael Deitch and Fletcher McCusker were the CEO and CFO team that led the privatization of SinfoniaRx, one of the first companies launched by Tech Launch Arizona.
About DVI:
DVI Equity Partners LLC (DVI) was founded in spring of 2018 with a singular mission of investing in early stage, emerging technology companies specializing in disruptive technology with an emphasis on companies founded and led by women and minorities. The firm evaluates emerging technology companies that create business-to-business (B2B) value in areas including national security, enterprise software, artificial intelligence, and data storage and analysis. Visit dviequitypartners.com for additional information.
http://www.dviequitypartners.com/
About the University of Arizona
Under President Robert C. Robbins, UArizona is leading the west in initiatives to enhance on-campus innovation, invention, research, and commercialization. Established in 1885, the University of Arizona, the state's land-grant university with two medical schools, produces graduates who are real-world ready through its 100% Engagement initiative. Recognized as a global leader in research, the university brings in more than $684 million in research investment each year and ranks in the top 20 research institutions among all public universities. UArizona is advancing the frontiers of interdisciplinary scholarship and entrepreneurial partnerships and is a member of the Association of American Universities, the 62 leading public and private research universities.
Tech Launch Arizona is the office of the University of Arizona that creates social and economic impact through commercializing inventions stemming from UA research. The office builds connections between talented UArizona faculty, researchers and staff and experienced entrepreneurs and investors, all strategically linked to create an ecosystem that refines ideas that start in the lab and grows them into new products and thriving businesses that benefit society.
https://techlaunch.arizona.edu/
SOURCE UAVenture Capital
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