Tarana Secures $ 50 Million Funding to Expand Production of Revolutionary Wireless Broadband Technology
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Capital injection to accelerate the company’s rapid business growth
MILPITAS, Calif .– (BUSINESS WIRE) – Tarana Wireless, Inc. today announced the closing of a $ 50 million growth-stage preferred share financing led by Prime Movers Lab. The product will be used for business growth and working capital to meet the initial strong demand for its family of innovative Gigabit 1 (G1) broadband access products.
Tarana’s G1 broadband infrastructure enables existing service providers and new service providers to deploy competitive fiber Internet access from existing cell phone towers. G1’s unique signal processing literally sees corners and rejects interference, making it easy to reach subscribers at scale, even using free, unlicensed spectrum. G1 is suited to serve both high density residential areas and sparse and underserved rural communities, anywhere in the world.
“We are happy to bring capital of scale into Tarana,” said David Siminoff, Managing Partner of Prime Movers Lab and recently appointed to the Tarana Board of Directors. “The company’s advanced technology and early market traction are starting to validate our high degree of optimism about its ability to help make the world smaller. Its product offering, with an attractive economy for customers in developed and emerging markets, extends a fundamental tenet of Prime Movers Lab’s mission: to accelerate the democratization of knowledge to improve the lives of billions of people on the planet.
“Tarana’s G1 products open up new possibilities for high-speed connectivity with unprecedented performance while being easy to deploy wirelessly,” said Basil Alwan, Executive Chairman and CEO of Tarana. “Previously, service providers had to choose between the high performance but very long investment cycles of fiber and the relative ease but lower capacity of wireless options. Our G1 family eliminates this dilemma, offering the best of both worlds in a modern, easy-to-deploy solution. ”
Greg Wyler, an early investor in Tarana and founder of 03B Networks and OneWeb, added: “While there are exciting developments providing broadband to remote or otherwise inaccessible locations with low Earth orbit satellites, their Limited overall capacity – even when fully deployed – prevents them from providing services to large-scale developed residential and rural markets. In contrast, Tarana’s solution is designed specifically for large-scale residential deployment with competitive fiber quality of service. ”
Fast and affordable internet access is more essential than ever, but delivering true broadband comes with high costs and long lead times. We are on a mission to change that! Developed by a tight-knit team of over 200 seasoned engineers, our patented and foundational breakthroughs in radio access technology bring simplicity of deployment of fiber-class fixed broadband cellular wireless to mainstream and underserved markets, using both licensed and free, available worldwide, unlicensed spectrum. Tarana is headquartered in Milpitas, California with additional research and development activities in Pune, India. Please visit https://www.taranawireless.com to register your interest in G1, or to apply to join the team!
About Prime Movers Lab
Prime Movers Lab invests in groundbreaking science startups founded by Prime Movers, the inventors who are transforming billions of lives. We invest in early stage and growing companies that are reinventing energy, transportation, infrastructure, manufacturing, human augmentation and IT. Portfolio investments cover space transportation, industrial solar heat, agricultural technology, brain upgrades, nanostructured materials, wafer slicing, prosthetics, 3D printing, mobility, longevity and IA. For more information, please visit https://www.primemoverslab.com.
Vice President of Marketing
Prime Movers Laboratory
Source: Tarana Wireless, Inc.