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TMCNet: IPWireless Secures Funding

[November 19, 2009]

IPWireless Secures Funding

Nov 20, 2009 (Close-Up Media via COMTEX) -- IPWireless, a provider of 3GPP technology for new applications and markets, announced that it has secured $15.5 million in Series A funding.

Spark Capital of Boston, Massachusetts, led the transaction.

The company plans to use the capital to accelerate sales of its 3GPP based mobile broadband and broadcast solutions into both the government and commercial markets.

"Securing over $15 million in financing during these turbulent financial times speaks to our solid business model, our proven team, and the tremendous growth opportunities that our unique platform and capabilities continue to create," said Dr. Bill Jones, CEO of IPWireless. "3GPP standards are unequivocally the leading global solution for wireless carriers. However, while the large wireless vendors continue to focus on mainstream spectrum bands and traditional markets for their 3GPP solutions, IPWireless is expanding the benefits of this leading standard into untapped spectrum bands and opening the door to a new generation of mobile applications, devices, and ecosystems looking to capitalize on the explosive wireless market." The company stated that its mobile broadband solutions, which are based on Release 7 and are software upgradeable to Release 8 LTE, have been deployed by a set of customers in both the commercial and government markets.

((Comments on this story may be sent to newsdesk@closeupmedia.com))

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