Cohda Wireless Obtains $1.8m in Series A Funding; SciVentures Investments, Epicorp Limited, M-Group, others Participate in Funding.
"Cohda Wireless is developing innovative technology that enhances broadband wireless performance," said Wayne Fitzsimmons, Principal of the M-Group. "Municipal wireless has extraordinary growth potential and we are confident that Cohda Wireless has the management team and technology in place to exploit this rapidly emerging market opportunity."
Cohda Wireless is developing technology that enhances mobile broadband wireless performance via advanced digital signal processing technology. The company's solutions overcome the limitations of existing and emerging 802.11, 802.16 and 802.20 wireless standards to deliver drastically increased range, the ability to operate in outdoor, non line-of-sight (non-LOS) environments, and high-speed mobility, fundamentally altering both the performance characteristics and economics of muni-wireless deployments.
Cohda Wireless gives vendors of muni-wireless networking solutions a competitive advantage by empowering them with technology that drastically reduces the number of devices needed per square mile required to deliver robust broadband wireless in outdoor, non-LOS and high-speed mobile deployments. The company's technology is currently under development and will be formally unveiled in the third quarter of 2006.
"Cohda Wireless' technology is already being demonstrated in trial deployments in Australia," said Martin Suter, CEO of Cohda Wireless. "This round of funding will enable us to advance product development to commercialization, and to build trial networks in the US, enabling us to further develop relationships with muni-wireless OEMs who can leverage our technology to improve the performance and reduce the cost of their networks."
Cohda Wireless had previously been funded by research grants and seed capital from the SciVentures Pre-Seed Fund, the Epicorp Seed Fund and the University of South Australia's commercialisation arm, ITEK.
About Cohda Wireless Pty Ltd.
Cohda Wireless is headquartered in Adelaide, Australia and with US operations in Orlando, Florida,. Cohda enhances broadband wireless performance via advanced digital signal processing technology that overcomes the limitations of existing and emerging 802.11, 802.16 and 802.20 wireless standards to deliver drastically increased range, enhance the ability to operate in non line-of-sight (non-LOS) outdoor environments, and enable high speed mobility. The company was founded by, and is led, by pioneers in the field of advanced iterative receiver design and implementation. The product of years of research and development at the Institute for Telecommunications Research at the University of South Australia, the company is funded by research grants and venture capital investment from SciVentures Investments, Epicorp Seed Fund, among others.
About SciVentures Investments Pty Ltd.
SciVentures Investments Pty. Ltd. ("SciVentures") is an Australian-owned and operated funds management company. It was established in April 2002. To date, SciVentures has operated primarily in the start-up new business space in a range of high technology disciplines. SciVentures was a recipient of an Australian Federal Government license under its Pre-Seed Fund Program.
About Epicorp Seed Fund Pty Ltd
Epicorp has developed a portfolio of high-value Australian information and communications technology companies. Epicorp is owned by public institutions including the Commonwealth Scientific and Industrial Research Organization, Australian National University, National ICT Australia and the University of Canberra. It manages a number of funds, primarily through the support of the ICT Incubator Program (ICTIP) as operated by the Australian Government Department of Communications, IT and the Arts.
About Mooroolbark Technology Pty Ltd (M-Group)
With offices in Melbourne, Sydney and Washington, the Mooroolbark Group of companies (M-Group) is a leading "boutique-style" venture capital investor. M-Group provides equity financing, business assistance and corporate advisory services to small to medium-sized Australian and international companies - particularly those with a desire for growth and expansion. Established in 1997, the M-Group has concluded many successful investments into Australian and US companies and has developed a sound reputation as a specialist investor in ICT, Bio Tech and other market sectors.