SAN DIEGO -- AirFiber Inc., a
developer of wireless optical networking equipment, today
announced the receipt of $50 million in the first closing of its third
round of equity financing.
The round, lead by GM Capital Partners, also included London
Merchant Securities and several of AirFiber's existing investors.
AirFiber will apply the proceeds to the continued development, sales
and marketing, customer support and distribution of its advanced
wireless optical networking equipment.
"We are pleased with the level of interest in AirFiber among new
investors and appreciate the backing that our previous investors have
shown," said Jim Dunn, CEO of AirFiber.