Cambridge Broadband raises $22.5m; eyes geographic expansion
Cambridge Broadband Ltd, the developer of carrier-class wireless transmission equipment for cellular backhaul, has raised $22.5m.
Taking part in this round were existing investors Amadeus Capital, Accel Partners and TVM Capital, together with new investor Adara Ventures. This funding will enable Cambridge Broadband’s continued sales growth and penetration in the transmission market, particularly for cellular operators.
Cambridge Broadband’s Chief Executive Officer Bjorn Krylander (pictured) said: “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.”
200% growth
Director of Amadeus Capital Partners and Chairman of Cambridge Broadband Hermann Hauser said: “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.
Managing Partner at new investor Adara Roberto Saint-Malo said that Cambridge Broadband had 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.
As well as significantly expanding its sales infrastructure in the last 12 months, the Cambridge-based company 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.
Cambridge Broadband announced its previous funding round in January 2006.
It was founded in 2000 and now has offices in Malaysia and South Africa, and manufactures in the UK and China. It has around 100 employees, primarily in development. Its VectaStar platform is deployed in 30 countries.
24th January 2007
