Intel Capital and Morgan Creek Capital Management led the round, with participation from existing investors Core Capital Partners and Cipio Partners .
The company said it will use the new funds to support 4G network deployments in 2012.
Founded in 1999, BridgeWave specializes in millimeter-wave backhaul and gigabit wireless connectivity.
Why this matters
The fresh funding serves as another reminder that backhaul is hot. It shows that the need for higher-capacity, lower-cost backhaul technologies appears to know no bounds as mobile data users demand ever more speed and capacity from new HSPA+ and Long Term Evolution (LTE) networks.
Millimeter-wave backhaul products, like BridgeWave's, that operate in high-frequency spectrum -- such as between 60GHz and 80GHz -- deliver high-capacity links over short distances, which can be attractive for LTE deployments. The technology has also emerged as a potential candidate to support small cells.
And BridgeWave isn't the only millimeter-wave vendor getting investors' attention: Rival startup Siklu Communications Ltd. recently raised $19 million and gained Qualcomm Inc. (Nasdaq: QCOM) as an investor. (See Qualcomm Invests in Small-Cell Backhaul Startup.)
Here's the backstory on BridgeWave and the emerging market for small-cell backhaul:
- BridgeWave Wins in Abu Dhabi
- Bridgewave Backhauls Clearwire
- Ridin' Millimeter Waves to 4G
- Provigent, BridgeWave Team Up
- BridgeWave Gets EU Certification
- More Startups Target Small-Cell Backhaul
- Startups Rush to Small-Cell Backhaul
— Michelle Donegan, European Editor, Light Reading Mobile