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WiMAX Venture Funding -
Aperto |
Aperto
Networks Raises $17 Million in First Tranche of Mezzanine Round
Other Topics:
Turnkey WiMAX Network,
WiMAX Triple-Play
Aperto Networks
September 15, 2005
Funds to Be Used for Market
Expansion and Further WiMAX Product Development
Milpitas, CA -- Aperto Networks, a leading WiMAX systems provider,
announced today it has raised $17 million in the first tranche of a
Series E financing round. The funding was led by Canaan Partners and was
raised from existing investors, including JK&B Capital, Alliance
Ventures, Innovacom, Tyco Ventures, Labrador Ventures, and Satwik
Ventures. The latest round brings the company's total capitalization to
$94 million.
Aperto will use the funds to expand its global market presence and to
broaden its WiMAX solutions portfolio. |
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"Aperto Networks has navigated the transition from pre-WiMAX to true
WiMAX solutions availability with skill and effectiveness," said Deepak
Kamra, general partner with Canaan Partners and an Aperto Board
Director. "The company continues to achieve its targeted revenues and
sustain customer loyalty, and remains a significant leader in the WiMAX
certification process. The investors are very impressed with Aperto's
growth and achievements in a highly competitive, hyper-expanding
market."
"Aperto Networks continues to demonstrate growth and success in the
burgeoning broadband wireless and WiMAX space," said Lindsay Schroth,
Senior Analyst for Yankee Group. "Broadband wireless access, from Mali
to Milwaukee, is becoming a cost effective means to bridge the digital
divide and offer an alternative broadband solution. Moreover, WiMAX will
enable the growth of new service providers and new applications to meet
the growing demand for broadband around the world."
"This round of funding was highly oversubscribed, generating interest
from a wide array of new and existing investors, including venture
capitalists and corporate funds. We were especially gratified to see the
enthusiastic backing of our existing investors," emphasized Reza Ahy,
Aperto Networks Chairman and CEO. "We are ramping for our 4Q 2005 WiMAX
Forum certification, ahead of other major players, and expect to be
fully ready for commercial delivery of an array of WiMAX-certified
products shortly thereafter. Demand across all fronts is strong, and we
have worked diligently for this inflection point."
Aperto Networks' PacketMAX(TM) and PacketWave(R) base stations and
subscriber units enable both licensed and unlicensed frequency broadband
wireless access for business-grade users and consumers. Service
providers use Aperto's award-winning systems to deliver wireless T1/E1
and Fractional T1/E1 speeds, wireless VPNs and VLANs, disaster recovery
Hot Spot, cellular and nomadic wireless backhaul, as well as VoIP and
streaming media.
About Aperto Networks
Aperto Networks is a leader in WiMAX systems selling to the global
markets. Aperto is a founding board member of the WiMAX Forum as well as
a founder and lead contributor to IEEE 802.16a/d and the ETSI-BRAN
standards. Its PacketMAX and PacketWave(R) systems consist of a family
of base stations, subscriber units, radios and antennas in 2.5, 3.5 and
5 GHz frequencies for point-to-multipoint and point-to-point deployment.
The scalability and patented technologies in these systems support new
wireless builds and complement wireline broadband access networks.
Aperto is deployed in over 65 countries, meeting service provider needs
for installation ease, IP-rich network functionality, cost
effectiveness, rapid provisioning and interference resilience. For more
information on Aperto Networks, go to www.apertonet.com. |
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