Luminate Wireless has hit an operational speed bump before even coming to market, with lead executive team members, including the original CEO, leaving following a shift in direction by the startup's board.
Cupertino, Calif.-based Luminate Wireless, Inc. formed in late 2013 and has since been working on developing a "mobile cloud controller," as CEO Murari Srinivasan explained to Light Reading in an exclusive interview earlier this year. (See Exclusive: Luminate Wants to Light Up the Mobile Cloud.)
But Srinivasan is now listed as an advisor to the company. Another co-founder, Kevin Yu, has taken on the CEO role, according to Luminate's team page.
In addition, the company's CMO, Ronny Haraldsvik, and Director of network consulting, Fuad Abdelaziz, have parted ways with the company recently.
The reasons for the changes at the top are not entirely clear. Light Reading has been told that key investors New Enterprise Associates (NEA) and Sequoia Capital want the company to go in a new direction.
Luminate has raised nearly $50 million since its inception. Besides NEA and Sequoia, other investors include Google (Nasdaq: GOOG) and Qualcomm Inc. (Nasdaq: QCOM). (See Valley Startup Luminate Adds Google, Qualcomm to Investor List.)
— Dan Jones, Mobile Editor, Light Reading