Thursday, July 17, 2008

SOMA Raises $50 Million for its Mobile WiMAX

SOMA Networks, a start-up based in San Francisco, secured an additional $51 million of equity financing in an over-subscribed round. Investors include Daiwa Securities Group Inc.; Daiwa Securities SMBC Principal Investments Co. Ltd.; Ridgeway Capital Partners Ltd.; and India Knowledge Fund, a private equity fund of Japan-based SBI Holdings Inc. and SBICAPS; among others.

SOMA's "FlexMAX" Mobile WiMAX System includes base stations, multiple types of mobile station devices, advanced multi-antenna processing, capacity-boosting technology, integrated applications, network management and network gateways.

SOMA said the financing has been earmarked for continued expansion of international operations and deployments, including ongoing support of the industry's largest WiMAX network with Bharat Sanchar Nigam Ltd (BSNL), India's state-owned telecommunications company.

  • Earlier this year, SOMA announced that India's Bharat Sanchar Nigam, Ltd (BSNL), had selected its platform for a mobile WiMAX rollout across three of India's fastest-growing telecom circles: Gujarat, Maharashtra and Goa, and Andhra Pradesh. SOMA said it was selected after extensive field trials in urban, suburban and rural areas. Based on the 802.16e-2005 standard, SOMA's Mobile WiMAX solution provides extended range and supports high subscriber density per sector.

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