Wireless internet service provider (WISP) Element8 scored a $200 million “strategic investment” from digital infrastructure focused investment firm Digital Alpha.

The Fort Worth, TX-based startup plans to use some of the capital to acquire smaller WISPs. The company’s first move: the purchase of Oklahoma City-based AtLink Services for an undisclosed amount.

Founded in 2020 and led by President and CEO Kevin Grace, Element8 is a telecommunications company that specializes in providing broadband network connections to tertiary and rural markets through a variety of technologies.

The executive team also includes James Fair, Dustin Dvorak, Mike Field, and Jonathan Van.

“In addition to their (Digital Alpha) financial backing, their strategic alliances with industry partners such as Cisco present an opportunity for us to build world-class network infrastructure and expand our relationships with many strategic vendors,” said Grace.

Roughly one-quarter of US households do not have home broadband internet connections, and rural and minority communities report even lower rates, according to the Pew Research Center.

Element8 is just the latest small WISP to get cash. Andrena recently announced $15 million in funding from Dragonfly Capital.