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BWA Vendors Grab Cash

Broadband wireless vendors Aperto Networks and Navini Networks Inc. have secured further VC funding as both companies turn their attention to the nascent WiMax market.

Aperto today announced it has raised $17 million in the first tranche of a Series E financing round (see Aperto Scores $17M). The round was led by Canaan Partners and included existing investors Alliance Ventures, Innovacom, JK&B Capital, Labrador Ventures, Satwik Ventures, and Tyco Ventures. This brings total investment in the Silicon Valley-based company to $94 million.

CEO Reza Ahy expects the final amount of Series E funding to be “around $20 million.”

“We believe this round is enough to take us to cashflow positive and to fund our new WiMax product line,” he tells Unstrung. “We have revenue of approximately $10 million per quarter.” Founded in 1999, Aperto has a headcount of 125.

Meanwhile, rival Navini has also deepened its pockets with up to $25 million. “I can confirm that we did recently raise money in a fifth round,” writes marketing director Maryvonne Tubb in an email note to Unstrung. “We did not release [it] yet as we are still in discussions with other investors and expect that to close shortly… Details on investors will be in the release but we have had a lot of repeat investments.”

Navini’s current investors include Austin Ventures, Granite Ventures LLC, Lehman Brothers Venture Capital Group, Sequoia Capital, and Sternhill Partners.

The vendor is keeping its lips sealed on the specific amount raised in the fifth round, but Tubb reveals that total investment now stands at “around $140M.” In June last year Navini announced it had secured $30 million in a Series D financing round, which at the time took the total to $115 million (see Navini Nabs $30M).

Both Aperto and Navini will use their latest windfalls to fund the development of future WiMax products based on the 802.16 standard (see Aperto Preps WiMax Certification and Navini Rips on WiMax).

— Justin Springham, Senior Editor, Europe, Unstrung

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