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TensorComm Secures $7M

TensorComm, developer of interference cancellation technology for CDMA and WCDAM carriers, raises $7M in its latest funding round

June 1, 2005

2 Min Read

DENVER -- TensorComm, (http://www.tensorcomm.com) a wireless technology company that enables CDMA and W-CDMA carriers to increase network capacity and utilize their spectrum more efficiently, announced today that it has secured $7 million in financing led by new investor Centennial Ventures. All existing investors, including Access Venture Partners, Crawley Ventures, and iSherpa Capital, also participated in the financing.

TensorComm has developed a patented Interference Cancellation Technology (ICT(TM)) that delivers a cost-effective, easily deployable CDMA and W-CDMA component that fits in a mobile handset without requiring form factor changes or radio frequency (RF) redesign. Providing immediate improvements in network economics, ICT(TM) gives wireless carriers the flexibility to improve network capacity, coverage and service quality while enhancing Internet services for high-end data users. In 2004, wireless carriers spent $39 billion on infrastructure equipment to increase capacity and for network build out.

The performance of ICT(TM) has been proven on a commercial network and its economic benefits have been validated by a major U.S. carrier to be in the billions of dollars. ICT(TM) is the only technology of its kind capable of canceling interference from all channels in a signal, including pilot, paging, synchronization, voice traffic channels and supplemental data channels. ICT(TM) is designed specifically to anticipate future extensions for handset and base station technologies.

"Controlling operating and capital expenditures, while evolving their networks for projected growth, is a major challenge faced by carriers worldwide" said Steve Halstedt, managing director and co-founder of Centennial. "TensorComm has developed a breakthrough technology and the strategic partnerships to deploy it in wireless networks. We are impressed with the team and its relentless determination to succeed."

Mr. Halstedt will join TensorComm's board of directors. This round of financing will be used to commercially deploy ICT(TM) enabled handsets, aggressively continue development of CDMA and W-CDMA products and focus research and development efforts on evolving technologies, such as WiMax and OFDM. In addition, it will support the expansion of its management team and further its business development efforts, primarily in Europe and Asia.

"Our first round of funding was based on the promise of proving our technology solution and its economic benefits," said John Thomas, CEO and founder of TensorComm. "We have now proved the technology and its benefits on commercial networks and will use this funding to accelerate the deployment of ICT technology in CDMA and WCDMA networks worldwide."

TensorComm Inc.

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