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Airespace Reveals VC Funding

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LR Mobile News Analysis
Light Reading
7/26/2004

You already knew that wireless LAN switch startup Airespace Inc. had scored another round of funding, thanks to your friends and neighbors here at Unstrung (see Airespace Gets More VC).

Now Airespace is 'fessing up to the fact that the amount raised was an additional $20 million, all from existing investors (see Airespace Lands $20M Round).

Alan Cohen, VP of marketing at Airespace, says the new money will be used as "working capital" to fund the firm's expansion. In total, the firm has raised around $58 million in venture funding.

It's been a manic Monday for funding in the wireless LAN switch space, with the two leading startups – Airespace and Aruba Wireless Networks – both announcing substanial new rounds (see Aruba Wraps $42M Financing).

Airespace and Aruba appear to have established a lead over the other startups in the switching sector. Both have now signed some major partnership deals. And both have put together nearly $60 million in funding.

The next few months should prove very interesting...

— Dan Jones, Site Editor, Unstrung

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