Cambridge Broadband raises over £5m in Series D funding round
Cambridge Broadband has raised $9 million (£5.1m) to fund its mid-term capital requirements while it seeks to extend the VectaStar wireless access and transmission product family.It is the fourth round of funding Cambridge Broadband has undergone since its incorporation in 2000, bringing the total raised to $45.75m, approximately £28.6m.
The Series D funding round was backed by existing investors, Accel Partners, Amadeus Capital Partners, Latin Rim and Techno Venture Management. Cambridge Broadband’s last funding round raised $15.25m (£8.7m) in May 2004.
Peter Wharton, Cambridge Broadband’s chief executive, said: “Our VectaStar platform is being increasingly used by cellular operators to backhaul their networks in place of traditional microwave links.
“This new funding helps us maintain our commitment to ongoing product development, as we continue to establish a leading role in the market.”
Cambridge Broadband has had continuing market success lately with many publicly announced networks in a wide variety of geographies including Asia, Europe, Africa and the Middle East.
Most recently it announced that Malaysian cellular operator Maxis was trialling the VectaStar fixed wireless transmission platform in its 2G and 3G cellular networks. The VectaStar equipment is being used to backhaul traffic from Maxis cellular base stations to its core network.
Maxis and Cambridge Broadband are working together on an exclusive large-scale trial, with a view to targeted nationwide deployment following a successful. Greg Drayton, EVP Technology Development of Maxis, said: “Point-to-multipoint architectures show significant promise in reducing costs for cellular backhaul while meeting the growing demands from broadband upgrades.
“Cambridge Broadband’s implementation incorporates traffic management features that effectively exploit these architectures. As the VectaStar solution delivers on its promises we expect to continue to expand its use in our cellular networks.”
Cambridge Broadband’s Series A funding was completed shortly after incorporation in June 2000 when Amadeus Capital Partners in Cambridge and Kiwi II Ventura Servicos of Portugal invested $5m (£3.3m). Series B raised $16.5m (£11.5m) in 2001 when the two existing investors were joined by Gilde IT Fund of the Netherlands, TVM of Milan and Latin America-oriented VC firm Latin Rim.
The firm was established by 10 R & D engineers from AT&T spin-out, Adaptive Broadband, which slid into insolvency in 2001. Its flagship point-to-multipoint wireless access system, VectaStar, is the most advanced combination of high bandwidth, coverage and range available and supports multiple carrier-class services simultaneously and has a 480 mbps (megabits per second) base station capacity.