Tropos receives $1M from Intel Capital
SAN MATEO, CA: The investment by Intel Communications Fund is part of its $150 million commitment to invest in companies whose technologies will accelerate the worldwide adoption of Wi-Fi (IEEE 802.11) wireless networks.
Tropos will use the new capital to fuel its growth in the metro-scale Wi-Fi networks market by augmenting and accelerating engineering, sales and marketing efforts.
In addition to the investment Tropos received from the Intel Communications Fund, the company announced in February that it raised $8.3 million in funding from Benchmark Capital, Boston Millennia Partners, Hanna Ventures and Voyager Capital.
"Intel is committed to proliferating Wi-Fi capabilities worldwide," said Sean Maloney, Intel executive vice president and general manager of the Intel Communications Group. "This investment is part of Intel Capitals strategy of building an ecosystem of complementary technologies that help drive demand for Intels mobile computing products. Tropos Networks technology has the potential to significantly increase Wi-Fi coverage and allow wireless connection in places previously unreachable by broadband."
Narasimha Chari, Chief Architect and Devabhaktuni Srikrishna, CTO founded Tropos Networks in 2000 along with Jonathan Goldenstein, Director of Product Management and Christian Dubiel, VP, Business Development.
Based in San Mateo, California the company currently employs 30 people.