Aperto Networks Closes $26 Million in Series B Financing
Strategic Partner Companies and Venture Capitalists Invest in the Promise of Broadband Access to Millions of Users
Milpitas, Calif., (October 3, 2000) – Aperto Networks, a developer of multi-service fixed broadband wireless access solutions for service providers, today announced it has secured $26 million in a second round of equity financing. The $26 million raised was led by a consortium of Alliance Ventures, Tyco Ventures, Ridgewood Capital, DMC Stratex Networks, Satwik Ventures, Oki Electric Industry Company, and Mitsubishi International Corporation. This brings Aperto’s total private capital raised to date to over $33 million.
This funding round and our expanded strategic partner network increase the resources needed to accelerate broadband access for the mass market of millions of users," said Reza Ahy, CEO and president of Aperto Networks. “We believe successful delivery requires a systems-level approach, and the support of top-tier players across the wireless solution value chain. Our investment partners -- major players in the semiconductor space, customer premises equipment vendors, systems integration and distribution partners -- underscore the value of that approach, and the sizeable global opportunity at hand."
Aperto Networks is applying its innovative broadband access technologies in both licensed and license-free spectrum to ensure widespread fixed wireless deployment by both incumbent and new service providers in North America, Europe and Asia,“ said Sachio Semmoto, Aperto board member, founder and CEO of eAccess, Ltd., a newly formed Japanese CLEC, and co-founder of DDI. “The company’s strategy for worldwide reach and the engagement of global funding partners will enhance Aperto’s ability to enter markets that are traditionally challenging for North American vendors.”
Aperto’s Series B financing provides additional resources to launch extensive field trials in both North America and overseas, and will support expansion of operations and marketing activities as the company moves into its full production phase. Aperto will field trial its three key broadband wireless access technologies, ServiceQ™, OptimaLink™ and RapidBurst™ through the end of 2000. Aperto plans to ship production systems during the first half of 2001.
About Aperto Networks
Aperto Networks is a developer of multi-service fixed broadband wireless access systems. The company was founded to provide a breakthrough solution to one of today’s critical network bottlenecks – last-mile broadband access. With practical, scalable systems and patent-pending technology that support new wireless builds and complement existing wireline broadband access technology, Aperto addresses service provider needs for rapid network deployment, multi-service scalability, ease of installation and cost-effectiveness. Aperto will dramatically shorten the lengthy provisioning cycles of broadband services by enabling rapid service provisioning across dense urban to suburban locations. Investors in Aperto include Alliance Ventures, Tyco Ventures, Ridgewood Capital, Satwik Ventures, DMC Stratex Networks, Oki Electric Industry Company, Mitsubishi International Corporation and Redwood Ventures. For more information on Aperto Networks, go to www.apertonet.com.