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SOMA sources $50 M
si Team
Thursday, June 30, 2005
SOMA Networks, Inc., a provider of last-mile broadband wireless access technology delivering multi-megabit broadband access and landline-quality voice services, has secured $50 million in late-stage funding.

Led by Temasek Holdings Private Limited, a Singapore-based investment company and Morgan Stanley Venture Partners, with participation from NeoCarta Ventures, Inc., and Endeavour Investments Limited, this round of $35 million complements $15 million of strategic financing. SOMA Networks completed in 2004.

“With the strong support of such distinguished financial institutions, SOMA Networks is well capitalized for continued growth in our target markets, while enabling long-term R&D initiatives to sustain and increase our technology lead,” says Yatish Pathak, Founder and CEO of SOMA Networks.

Soma has so far released two products SOMAport 300 wireless broadband gateway and SOMA macro base station.

Their solution supports both WiMAX and HSDPA on a single platform that offers multi-megabit broadband data, landline-quality voice (VoIP), advanced applications, and self-installable services, all contained within a portable multi-user wireless gateway device.

The Soma solutions are a complete end-to-end broadband wireless access system that includes home gateway devices, macro-cellular base stations, an air interface and operating system.

This new round of funding will increase Soma’s total funding to $175 million. The funds have been earmarked for global expansion as the company continues to expand and grow in both domestic and international operations.

“We are pleased to have the financial backing of world-class partners like Temasek Holdings and Morgan Stanley Venture Partners as we continue to scale operations to serve the expanding global market,” says Pathak.

Founded in 1998, Soma is headquartered in San Francisco, CA with offices around the world.
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