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Telsima closes working capital debt of $25 million

July 24, 2007

1 Min Read

SUNNYVALE, Calif. -- Telsima Corporation, a leading developer and provider of WiMAX based Broadband Wireless Access (BWA) and Mobility solutions, today announced that it has secured up to $25 million working capital debt financing. SVB Silicon Valley Bank, based in Santa Clara, Calif., provided the debt facility. Telsima will deploy this working capital debt to speed up the supply of Telsima StarMAX family of products to its customers through enhanced performance and increased generating capacity.

Telsima won multiple, multi-million dollar contracts from Tier I operators in 2007 for rolling out their WiMAX networks in India. Telsima also has some significant projects in the pipeline in other emerging markets, most specifically, CEE. Telsima has tied up with major contract manufacturers in India and Europe for supplying equipment to its existing and new customers. The manufacturing of equipment commenced in the past financial year.

Our existing customer relationships are strengthening and our pipeline of new business is strong. Our production is being ramped up to keep pace with our expansion as the market response to our technology and innovation continues to exceed our expectations," said Alok Sharma, CEO, Telsima. "In the first quarter of this financial year, we delivered a significant number of base stations and subscriber stations to our customers and started deploying their networks in major cities of India. This investment comes at a pivotal time when we expect this positive momentum to continue in the second quarter and the second half of 2007."

Telsima Corp.

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