Mountain View, December 4, 2008 – PureWave Networks, Inc., an innovative provider of advanced, cost-effective 4G wireless base stations, today announced that it has secured $12 million in Series B funding. Two new venture funds – ATA Ventures and Leapfrog Ventures - have joined PureWave’s existing investors, which include Allegis Capital and Benhamou Global Ventures, in successfully completing the funding round. The Series B funding will allow PureWave to commercially introduce its advanced beam forming WiMAX base stations in North America, the APAC region and other selected markets and to expand its operations.
”PureWave’s strong balance sheet in this challenging economic environment, together with our leading edge product offering, will be the foundation of our future growth”, said Gideon Ben-Efraim, PureWave’s CEO and Chairman. “WiMAX and LTE infrastructure are the big growth opportunity in the mobile infrastructure market today and we are positioning the company to be a major player in this space.”
PureWave’s goal is to transform the economics of WiMAX and LTE, through a combination of advanced technology, an innovative product offering and the most cost-effective products available on the market. PureWave offers small form-factor WiMAX base stations, which combine the power, performance and sophisticated features of a traditional macro base station, with the small footprint and competitive pricing of pico base stations. PureWave’s advanced beamforming technology allows its customers to enjoy unmatched spectral efficiency, data throughput and range. PureWave’s small form-factor WiMAX base stations are designed for all outdoor installation, are tower, pole or wall mountable and require no indoor shelter.
PureWave, a Silicon Valley Company, is the world’s leading supplier of high-performance adaptive beamforming 4G base-stations currently supporting standard WiMAX devices, enabling delivery of quadruple-play services (Voice, Video, Data, Mobile).
Established in 2003, PureWave Networks develops ultra high-performance, carrier-class WiMAX 802.16e and LTE base-station equipment. PureWave Networks’ PureMax™ technology is a multi-beamforming approach that delivers significantly higher capacity and coverage than the competition. PureWave Networks employs a software-defined radio approach which assures that systems built for today’s world can be easily upgradeable in the future.
PureWave Networks is a member of WiMAX Forum, an industry-led, not-for-profit organization formed to certify and promote the compatibility and interoperability of broadband wireless products based upon the harmonized IEEE 802.16/ETSI HiperMAN standard.
For more information about PureWave, please visit our corporate website at: www.pwnets.com.
About ATA Ventures
With a focus on Information Technologies (IT), the ATA Ventures team makes capital investments in opportunities where the combined backgrounds of the ATA Ventures professionals can provide an extraordinary positive influence on the portfolio company management team. The firm’s investment professionals offer an average of over 25 years of related experience (per Managing Director) to support their portfolio companies as they grow. ATA Ventures’ $150 million charter fund (ATA Ventures I, L.P.) was created in March of 2004 and targets investments in companies that consist of exceptional people, technology, and plans which appear to offer above-average prospects for capital growth. The formation of the firm’s second fund of $196 million (ATA Ventures II, L.P.) was completed in May of 2006 to continue with similar investment philosophies and objectives. Backed by leading foundations, fund of funds, pensions funds, and endowments, the ATA Ventures team has formed a platform to support exciting companies for many years to come.
About Leapfrog Ventures
Leapfrog is an early stage technology investor based in Menlo Park, CA. The firm consists of experienced individuals with extensive operating and investing experience, and takes an active role in helping its portfolio companies grow from inception through becoming a substantial enterprise. The principals have experience as CEO’s of venture-backed companies, numerous other operating roles, and have collectively been directly involved in over 60 venture investments. Leapfrog does not just follow the pack, but instead takes its name from its mission to find companies that can surpass existing and potential competition and become leaders in their sector. Rather than build a large portfolio, the firm concentrates on fewer deals and gives them full attention. In short, Leapfrog practices “classic” venture capital investing. Leapfrog is currently investing from its second fund, which commenced its activity in 2005.
For additional information, please contact:
Ronen Vengosh, VP Business Development, PureWave Networks, Inc.