Kineto Wireless secures $35 million for global deployment of MoWLAN

June 8, 2004

1 Min Read

MILPITAS, Calif. -- Kineto Wireless (www.kinetowireless.com), a key innovator and leading supplier of Mobile over Wireless LAN (MoWLAN) solutions, today announced the closing of their $35 million Series C financing, bringing the total investment in the company to more than $59 million. The round was led by Oak Investment Partners, a multi-stage venture capital firm with a total of $4.2 billion in committed capital and 25 years experience of investment in high growth technology companies. Existing investors including 3i, Mitsui & Co. Venture Partners, SeaPoint Ventures, Storm Ventures, Sutter Hill Ventures and Venrock Associates also participated in the financing round. Kineto will utilize the funds to support the commercial deployment of their award-winning MoWLAN solution by service providers around the world.

"The combination of Voice over IP, the rapid deployment of Wireless LANs and the increasing use of mobile services will cause significant changes within the telecommunications industry over the next few years," said David Walrod, general partner, Oak Investment Partners. "Kineto is the recognized leader behind the convergence of mobile networks and Wireless LANs, and has enormous growth potential from the global deployment of MoWLAN technology."

"Kineto's $35 million funding represents the largest investment in carrier infrastructure over the past twelve months," said Rajeev Chand, senior equity research analyst, Rutberg & Co. "This level of funding is driven by the significant carrier interest, potential user value, and venture capital support in fixed mobile convergence."

Kineto Wireless Inc.

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