Cambridge Broadband raises $22.5m to continue acceleration into Cellular Market
Cambridge, UK, 22 January 2007: Cambridge Broadband, the developer of carrier-classwireless transmission equipment for cellular backhaul, has raised $22.5 million of funding.Taking part in this round were existing investors Amadeus Capital, Accel Partners andTVM Capital, together with new investor Adara Ventures. This funding will enable Cambridge Broadband’s continued sales growth and penetration in the transmissionmarket, particularly for cellular operators.
Hermann Hauser, Director of Amadeus Capital Partners and Chairman of Cambridge Broadband, comments: “We have been involved with Cambridge Broadband since the company was established and are pleased to continue our involvement in this latest round of financing. The company has made excellent progress and has established a hugely experienced team to meet the challenges in taking it to the next level.” Over the last year, as well as continuing with its broadband access business, Cambridge Broadband has been growing the cellular transmission side of its business. 2006 sales of its VectaStar platform were more than treble those of the previous year, and the company has announced equipment contracts with leading cellular operators around the world, including MTN and Vodacom.
Roberto Saint-Malo, Managing Partner at new investor Adara, explains: “Cambridge Broadband has a unique solution that is perfectly placed to capitalise on the infrastructure problems cellular operators are facing as their networks continue to grow and as new 3G networks are being built. VectaStar has already proven its world-beating performance in this application, and we are very pleased to come on board as an investor as the company continues to grow.”
As well as significantly expanding its sales infrastructure in the last 12 months, Cambridge Broadband has strengthened the company’s managerial and operational teams to ensure its ongoing success. Following the appointment of Bjorn Krylander as CEO in January 2006, a new CFO, Joe Byrne, and VP Operations, Graham Peel, have been appointed. Bjorn Krylander, Cambridge Broadband’s Chief Executive Officer, explains: “We have capitalised on the explosive growth opportunity in the cellular backhaul market and established great traction around the world, as well as expanding on our existing broadband access business. This new funding provides a great opportunity for us to expand our geographical market and also to invest in the research and development needed to evolve our product offering to further extend the technological advantages and highly compelling business case our product provides operators.” Cambridge Broadband announced its previous funding round in January 2006.