Movandi Announces $27 Million Series C to Accelerate 5G Network Deployments
WRVI Capital Leads the Investment Round to Further Develop 5G mmWave Technology and Expand Rollout of 5G Networks & Devices
IRVINE, Calif., April 16, 2020 – Movandi, a leader in new 5G Millimeter Wave (mmWave) networks, announced today a $27 million Series C funding round to further accelerate and extend the range of real world 5G mmWave deployments. WRVI Capital led this current round of financing along with Cota Capital and DNX Ventures.
Movandi’s 5G mmWave solutions include 5G BeamXR active routers/repeaters and BeamX RF front-end for fixed wireless CPE, mobile devices, small cells, and Open Radio Access Networks (ORAN) radio units (RU). These products accelerate deployments across the complete 5G ecosystem from consumer and enterprise market segments, and applications from IoT, mobile, artificial Intelligence (AI), software defined networks and automotive. Not only enabling 5G infrastructure, but Movandi’s 5G mmWave system is to ensure that 5G mmWave technology can be broadly deployed in real-world scenarios by operators building the “interface of the internet.”
“We’re at an exciting inflection point in 5G mmWave operator deployments, we’re both scaling our active router platform and RF front-end deployments,” said Maryam Rofougaran, CEO and co-founder, Movandi. “We are working closely with 5G operators and system OEMs solving these 5G coverage challenges, by unlocking the true benefits of 5G that are only achieved with mmWave – that makes Movandi truly unique.”
The funding will enable Movandi to ramp and expand their active router/repeater platform, RF front-end, and ORAN radio units. Movandi will also grow its teams in Irvine, California and Australia to continue developing its innovative integrated circuits, antennas, systems, and algorithms, while delivering 5G routers that expand 5G coverage and act as repeaters for a wide range of 5G applications. These repeaters provide compelling cost savings and drive down the CAPEX and OPEX for 5G operators.
“Today’s commercial 5G mmWave deployments face a myriad of technical challenges. We are seeing a continued, significant operator investment in commercial deployments and high frequency mmWave that represents a major opportunity for Movandi’s 5G deployments,” said Sriram Viswanathan, a founding Managing Partner, WRVI Capital. “By investing in Movandi, we are enabling the leaders and innovators in 5G mmWave. The stellar management team’s vision and accomplishments have had a major impact on the wireless industry so far, and we expect much more from them in the future as they unleash the full potential of 5G.”
Movandi has already attracted the attention of the wireless industry, including recognition from the Global Semiconductor Alliance (GSA), CNBC and Fast Company, as one of the most disruptive technologies in 5G mmWave. Movandi technology deployments are planned across the world’s top wireless operators this year.
Movandi is the fastest growing 5G mmWave solutions company with a mission to revolutionize 5G Everywhere. The company was founded by two siblings, Maryam and Reza Rofougaran, today’s top leaders in the wireless industry, whose innovations have shaped and transformed wireless in the last few decades. Having pioneered wireless systems. Movandi is solving real-world 5G mmWave deployments with unmatched differentiation and high performance core technology in 5G integrated circuits, antennas, systems, and algorithms design disciplines, to enable 5G to its full potential. Movandi’s flexible solutions solve 5G mmWave deployment cost and schedule challenges and provide future-proof solutions utilizing mesh and routing to further improve 5G coverage and capacity. Movandi’s strong and diverse system portfolio of IP and patents plays a critical role across the complete 5G ecosystem, from infrastructure to mobile, while allowing for maximum 5G coverage. www.movandi.com
WRVI Capital is a leading venture capital firm that invests in exceptional entrepreneurs and disruptive technologies that will help shape the future. Through our unique mix of intellectual capital, expertise, and network of relationships, we empower founding teams and drive continuous and measurable progress for our portfolio companies. WRVI Capital is headquartered in California. For further information about WRVI Capital, please visit www.wrvi.vc