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According to reports, the firm will use the investment to hire new staff across various areas of the business, along with financing areas considered to be strategically important
US-based fixed wireless access (FWA) platform developer Tarana Wireless has announced that it has raised $50 million in a roundup led by asset management firm Digital Alpha.
The funding is part of the firm’s plan to as well increase its research and development in wireless broadband technology, as well as is rapidly deploying its G1 platform, its next generation fixed wireless access (ngFWA) platform.
The India based company is seeking to expand the reach of its ngFWA technology in global markets. Speaking to Light Reading, CEO Basil Alwan said, “We are full-on in growth mode at this moment.”
After launching in late 2021, G1’s first year of sales reached $100 million, which the company expect to exceed in 2023. It is deployed by more than 270 service providers in 19 countries, and in 41 US states.
“Digital Alpha knows our customers’ business intimately, which has provided early insights into ngFWA and the momentum building in our business. This investment along with those in our customers makes them a natural and great partner” said Tarana CEO Basil Alwan.
“Our rapid growth has created more opportunities along with higher working capital requirements; this financing will play an essential role in maintaining our trajectory, supporting our customers’ continued growth, and expanding our reach globally.”
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