Cambridge Broadband Networks Raises $16.5M for Global Market PushBy Cambridge Broadband Networks, PRNE
Sunday, December 5, 2010
Samsung Ventures Participate to Fund Growth in Next Generation Wireless Backhaul
CAMBRIDGE, England, December 6, 2010 - Cambridge Broadband Networks Limited today announced it has secured a
$16.5M investment to fund an aggressive growth plan aimed at capitalising on
worldwide demand for its next generation microwave backhaul and access
solutions. This latest funding round was oversubscribed and in addition to
participation from the existing investors - Accel Partners, Adara, Amadeus
Capital Partners and TVM Capital - the company secured a significant
contribution from two new investors including Samsung Ventures Europe.
Samsung Ventures' investment, the first by its newly created European
venture investment group is a precursor to the development of a strategic
relationship to create an important new channel to market for Cambridge
Broadband Network's VectaStar point-to-multipoint solutions.
Commenting on the development Graham Peel, Cambridge Broadband Networks'
CEO said, "The investment we've just secured is both an affirmation of the
technology underlying our point-to-multipoint microwave equipment and
recognition of the significant opportunities we have available. Our VectaStar
solutions meet the needs of mobile operators in growth markets around the
world, from EMEA to the Americas and Asia Pacific - all are seeking more
efficient means of satisfying the demand for broadband data services."
Teresa M Vega, Cambridge Broadband Networks' Chairman, added, "Market
analysts universally predict a dramatic rise in the requirement for
innovative microwave backhaul solutions in response to exponential growth in
consumer demand for mobile data services. Samsung and our other investors
recognise that Cambridge Broadband Networks is ideally placed to meet that
demand with a technically and environmentally superior solution that is
highly efficient in its use of capital and operational resources."
Cambridge Broadband Networks will use the proceeds from the funding to
invest in product development as well as its sales and customer support
organisation to support its push into new geographical markets and to ensure
the best possible service for its growing list of customers.
Cambridge Broadband Networks' Vectastar backhaul solutions mirror the
point-to-multipoint (PMP) architecture found in existing 3G, and next
generation Long Term Evolution (LTE), radio access networks. It is a
fundamentally more efficient approach to serving the 'peaks and troughs'
typical of traffic generated by mobile broadband subscribers, and has already
been enthusiastically adopted by forward thinking operators around the world
to serve millions of subscribers. Cambridge Broadband Networks is confident
operators are increasingly evaluating PMPas part of the network upgrades
required to meet rising demand for mobile data services.
"The requirement for enhanced mobile backhaul networks is significant and
will not be satisfied entirely by fibre networks or existing microwave
point-to-point solutions," said Michael Jeon, Head of Europe Investments at
Samsung Ventures Europe. "Our investment in Cambridge Broadband Networks is
evidence of our belief in the requirement for innovative solutions to a
global issue and we see huge potential for the company's VectaStar
About Cambridge Broadband Networks Limited
Cambridge Broadband Networks Limited provides telecommunications
operators with carrier-class wireless point-to-multipoint transmission
equipment. The company's unique approach to backhaul means that its
technology provides operators with a highly compelling business case,
reducing backhaul costs by up to 60%.
To date, Cambridge Broadband Networks products have been commercially
deployed and technically proven in more than 30 countries, and the company
continues to expand into new geographical markets as wireless networks become
more widespread throughout the world. Privately-held, Cambridge Broadband
Networks has headquarters in Cambridge, UK, with offices in Malaysia, Nigeria
and South Africa and manufacturing facilities in China.
For more information about any of the issues in this press release, please contact: SamTring, Babel PR, cbn at babelpr.com , +44(0)20-7434-5550
Tags: Cambridge, Cambridge Broadband Networks, December 6, England, United Kingdom