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News >> Technology >>
Spatial Wireless gets $27M in fourth round
By siliconindia
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Friday, 20 June 2003, 19:30 IST
RICHARDSON, TX: Spatial Wireless, a developer of networking solutions for mobile networks, has received $27 million in its fourth round of equity financing. VantagePoint Venture Partners led the round with all existing investors -- Austin Ventures, Sequoia Capital, Dali Hook Partners, Genesis Campus and Qualcomm Inc. contributing additional capital.
Having raised a total of $58M in capital investment since 2001, Spatial Wireless will use the proceeds from this new round for further market expansion and building a world-class customer support organization.
Spatial Wirelesss CEO, Pardeep Kohli says, "Spatial Wireless has experienced tremendous commercial success with tier 1 mobile operators in the U.S. adopting distributed mobile switching as a critical element of their core networks. As we expand into international markets, we are seeing the same commercial and technical fundamentals that have driven U.S. operators also apply to international operators."
In the past year, Spatial Wireless has commercially deployed its products in multiple networks, domestic and international. In addition to this momentum, the company is actively pursuing strategic partnerships with large infrastructure providers to market and resell Spatial Wireless products.
As mobile operators look for ways to dramatically reduce their operating and capital expenditures, Spatial Wireless is enabling mobile service providers to immediately improve profitability. said Eric Ver Ploeg, partner with VantagePoint Venture Partners.
Pardeep Kohli, Seshu Madhavapeddy, Vice President of Product Management and Business Development, Anuj Jain, Senior Director of Software Development and Mike Tatachar, Senior Director of Operations founded the company.