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TenXc Wireless Grabs $13.9M

TenXc Wireless secures $13.9 million in financing

December 16, 2004

1 Min Read

OTTAWA -- TenXc Wireless Inc., today announced it has secured US$13.9M in Series A investment financing. The new funding provides TenXc Wireless with the resources to bring its flagship products to market, establish the required support infrastructure to meet product demand, and expand marketing and sales channels. The forthcoming TenXc solution offers wireless operators the ability to enhance service capacity and signal quality without incurring the time and costs involved in network-wide infrastructure changes.

Two industry leading venture capital funds, VenGrowth Capital Partners and U.S.-based JK&B Capital, co-led the financing round and were joined by existing TenXc Wireless seed round investors, Venture Coaches/Skypoint Capital, and BDC Venture Capital.

"With increased subscriber usage and new high-speed data services, wireless carriers today face continued network build-out to deliver added capacity and enhanced quality to meet customer demand and capture new revenues ," said Mark Janoska, General Partner with Vengrowth Capital Partners. "TenXc's approach to optimize scarce spectrum resources and reduce site costs is highly attractive in a growing industry driven to reduce churn and improve profitability. Significant customer interest in the products TenXc is developing and unique powerful wireless technology makes this an exciting investment for Vengrowth."

"Our investment in TenXc Wireless underscores what we look for in a company; strong customer engagement, good management of the business, engineering depth, and a compelling product direction that evolves with market needs," said Ali Shadman, Partner with JK&B Capital. "The team's proven experience delivering commercial products and focused go-to-market strategy positions TenXc for market leadership."

TenXc Wireless Inc.

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