Wavesat closes $11.7 Million funding round
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Sunnyvale: Wavesat, a supplier of Broadband Wireless semiconductor solutions, has secured its latest round of funding, raising $11.7 million CAD. The round was led by existing investors including BDR Capital, BDC Capital and Multiple Capital. Proceeds will be used to further strengthen the company's leadership position in the 4G Broadband market. Introduced in May 2008, Wavesat's unique Odyssey 4G multi-protocol architecture has been gaining wide-spread acceptance. Wavesat delivers silicon that enables customers to deploy multiple Broadband Wireless technologies such as WiMAX Wave2 and XG-PHS today and to migrate seamlessly to future 4G technologies such as LTE. In the recent past, Wavesat had announced that Compal, an ODM for handheld devices, selected the Odyssey for mobile WiMAX USB dongles. Also, Willcom, a large wireless network operator in Japan, has chosen Wavesat to help develop XG-PHS services and equipment in that country. Later this month, Wavesat will be presenting its Odyssey portfolio of 4G Broadband products at Mobile World Congress in Barcelona, Spain.

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