Airvine, a company developing a multi-gigabit-speed wireless backhaul system for indoor connectivity, announced its Series A funding round closing. Crosslink Capital led the round, which totaled $6.2 million and closed at the end of February. Airvine will use the funding for product development and to expand the sales team to capitalize on increased customer interest.
As an innovator of intelligent broadband wireless backhaul solutions for the enterprise, Airvine has developed the industry’s first indoor 60 GHz wireless system, which delivers multi-gigabit/sec data transfer rates without the complexity of legacy solutions.
The WaveTunnel is a shoebox-sized module that mounts on ceilings or walls to provide high-speed connectivity for the ever-expanding menu of enterprise services and applications, whether Information Tech or Operational Tech. WaveTunnel systems, which can be installed in hours, fill the broadband gap within many large interior spaces by extending LAN reach or upgrading the performance of older 1 Gb/s Ethernet CAT 5/6 cables. The WaveTunnel system is generally available, and volume shipments started in Q4 of 2023.
KEY QUOTE:
“Crosslink Capital sees an excellent investment opportunity in helping the WaveTunnel product reach its full potential with deployments in a variety of exciting new network applications. Airvine has accomplished technical feats in wireless that have never been done before and has developed a truly compelling value proposition for solving the bandwidth expansion and connectivity problem in a number of large interior settings on a very cost-effective basis. This solution can be installed faster and cheaper than laying cable or fiber in today’s commercial environments.”
– Michael Stark, Principal of Crosslink Capital
“We are gratified by the level of support received in this round, which will help us achieve our sales and market growth objectives in FY24.”
– Vivek Ragavan, Airvine CEO
