Mobile Operator Cape Secures $61 Million Funding To Build Nationwide Network

According to PANews, mobile operator Cape, prioritizing privacy, has successfully raised $61 million in funding. The round was led by A-Star and a16z, with participation from XYZ Ventures, Costanoa Ventures, Point72 Ventures, Forward Deployed VC, and Karman Ventures. Cape is committed to minimizing data collection and providing quality wireless coverage, vowing not to monetize user data. The funds raised will be used to build a nationwide mobile network, ensuring no leakage of user's names, social security numbers, and location information. TechCrunch reported that the $61 million funding is a consolidation of its seed round and Series A (as Private Tech in stealth mode) of $21 million and Series B of $40 million. Cape has not disclosed its valuation.