BridgeWave Communications, a supplier of 4G millimeter wave backhaul services, on Tuesday announced that it has secured an additional $10.3 million in series 5 funding. The funds will be used to support accelerating growth in backhaul for network deployments going into 2012 as carriers continue to address the data transport challenges expected with 4G mobile and LTE network deployments worldwide, says the company.
The round was led by Intel Capital and Morgan Creek Capital Management, with full participation from existing investors Core Capital Partners and Cipio Partners.
According to BridgeWave (Santa Clara, Calif., USA), the need for cost effective, high capacity next generation backhaul systems is critical for carriers' as they continue momentum to deploy networks supporting high bandwidth services.
By 2015, Infonetics Research (Campbell, Calif., USA) expects that 70% of millimeter wave equipment will be deployed in backhaul networks as the demand for high capacity mobile backhaul solutions for metro areas with high cell density and small cells in particular (Microwave and millimeter wave equipment evolving to support next-gen RAN -- March, 2011).
"BridgeWave's wireless Ethernet technology will play an increasingly important role in providing mobile backhaul and Pico-cell solutions as carriers continue deploying 4G and LTE networks," says Bryan Wolf, managing director, Intel Capital.
"This investment will allow us to ramp up production of our carrier-grade wireless backhaul products as we go into 2012," says Amir Makleff, BridgeWave president and CEO. "As mobile operators and carriers continue to see a substantial increase in traffic due to data-hungry mobile devices, they will turn to systems like ours to meet their network needs."