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News >> Technology >>
Rave Wireless raises $5M Series A
By siliconindia staff writer
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Friday, 23 September 2005, 19:30 IST
NEW YORK: Rave Wireless Inc. led by serial entrepreneur Rodger Desai has raised $5 million in venture capital funding from Bain Capital Ventures and Sigma Partners.
Telecommunication entrepreneurs Raju Rishi and Shikhar Ghosh, are also in the management team of Rave Wireless.
Rave Wireless provides the easiest way to find, create, and share time and location-based information with mobile phones. Rave has partnered with major wireless carriers to ensure its platform is integrated with the carriers location-based and presence services. Rave's services are initially targeted at North American youth and their universities.
"We couldn't be more thrilled that Bain Capital Ventures and Sigma Partners share our belief that the mobile phone will continue to develop and transform the way people interact with each other and their communities, said Rave CEO Rodger Desai. Todays youth is leading the way in defining a mobile lifestyle that will become commonplace.
"We're always excited to work with entrepreneurs weve backed before, and in this case we are even more excited about a company that truly understands the potential of wireless for consumers; they have an incredibly strong understanding of the youth market said Bob Davoli, Managing Director, Sigma Partners.