Azimuth Networks Secures $5.8 Million in Venture Funding for Wireless Product Development; Kodiak Venture Partners, North Bridge Venture Partners Co-Lead the Round.Business/Technology Editors SUDBURY, Mass.--(BUSINESS WIRE)--Sept. 9, 2002 Azimuth azimuth (ăz`əməth), in astronomy, one coordinate in the altazimuth coordinate system. It is the angular distance of a body measured westward along the celestial horizon from the observer's south point. Networks announced today that it has closed a $5.8 million first round of funding, co-led by Kodiak Venture Partners and North Bridge Venture Partners. Azimuth Networks will be developing products for the evolving wireless market segment and will use the funds to expand its team. The company initially will focus on recruiting for engineering positions. "We feel privileged to have the opportunity to work with world-class, seasoned investors like Kodiak and North Bridge," said Fanny Mlinarsky, Founder, Azimuth Networks. "Ilan Carmi of Kodiak and Angelo Santinelli of North Bridge are successful entrepreneurs who bring with them invaluable operational, technology and market expertise, combined with a hands-on partnering style." Azimuth Networks was founded by Mlinarsky, a technology industry veteran with 20 years of experience at successful data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. startups. Most recently, Mlinarsky served as General Manager of an Agilent business unit formed as the result of the acquisition of Scope Communications. Prior to that, Mlinarsky served as VP of Engineering at Scope and also held key technical positions at Star-tek (now 3Com), Concord Concord, cities, United States Concord (kŏng`kərd, kŏn`kôrd'). 1 city (1990 pop. 111,348), Contra Costa co., W central Calif.; settled c.1852, inc. 1906. Communications, Chipcom (now 3Com) and Teradyne. "A key element of our strategy is to invest in entrepreneurs who seek rapid acceleration for their ventures with a vision of creating the market leaders of the future," said Ilan Carmi, Partner, Kodiak Venture Partners, a seed and early stage venture capital firm focusing on communications, semiconductor and software opportunities. "Azimuth's management team has what it takes to establish a market leadership position in the wireless space, including a proven track record of delivering successful products to market." The Azimuth management team also includes John Griesing, VP of Engineering and Charles Wright Charles Wright is the name of:
Modem used to convert analog data signals to digital form and vise versa, for transmission or receipt over cable television lines, especially for connecting to the Internet. business. Wright, who holds a Ph.D. in Electrical Engineering electrical engineering: see engineering. electrical engineering Branch of engineering concerned with the practical applications of electricity in all its forms, including those of electronics. from Worcester Polytechnic Institute Worcester Polytechnic Institute - (WPI) A well-regarded, small engineering college. Address: Worcester, MA, USA. and serves as a voting member of IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields. 802.11, was a pioneer in the early use of the 802.11a protocol and most recently served in lead design roles at Enterasys and Cisco. Carmi and Santinelli will join Mlinarsky, as well as Peter Williams Peter Williams can mean:
Azimuth also has access to a board of advisors that includes technology, marketing and industry experts such as Menachem Abraham, co-founder of Chipcom, Prominet and Mintera. Abraham shares roots in the highly successful Chipcom with Mlinarsky, Griesing, Carmi, and Held. About Azimuth Networks Azimuth Networks is an early-stage Boston area start-up developing enabling technologies for the wireless data communications market. For more information, visit www.azimuth.net. About Kodiak Venture Partners Kodiak Venture Partners is a venture capital firm focused on seed and early stage investments in emerging communications, semiconductor and software companies. With a focus in the eastern regions of the U.S. and Canada, Kodiak Venture Partners builds relationships with entrepreneurs seeking accelerated market success. Kodiak's investment partners are successful high-technology business entrepreneurs who take a high-impact, hands-on approach to forming, operating, building and funding market leaders. For more information, visit www.kodiakvp.com. About North Bridge Venture Partners North Bridge Venture Partners is an active, early-stage venture capital firm based in the Boston area with approximately $1.6 million under management, focusing on software, Internet and communications investing. Working closely with entrepreneurs, they add value by providing strategic guidance, specific industry knowledge, team-building skills, and an in-depth understanding of both private and public financings. Additional investments include ArrowPoint Communications, Sycamore sycamore: see plane tree. sycamore Any of several distinct trees called by the same name though in different genera and families. In the U.S. the term refers to the American plane tree or buttonwood (Platanus occidentalis), a hardy street tree. Networks, SilverStream and Sonus Networks. More information can be found at www.nbvp.com. |
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