Eagle Wireless, a U.S.-based cellular module manufacturer serving the IoT and automotive markets, announced it has raised $30 million in a Series B financing round co-led by Asymmetric Capital Partners and The O.H.I.O. Fund. The new funding brings Eagle Wireless’ total capital raised to $44 million and positions the company to expand its role as the global connectivity ecosystem transitions from 4G to 5G.
Founded in 2024, Eagle Wireless describes itself as the only Western cellular module manufacturer serving both IoT and automotive markets. The company provides scalable, secure, and high-performance connectivity solutions across industrial, commercial, and vehicle platforms.
The Series B capital will be used to expand research and development efforts, accelerate the company’s 5G roadmap, and support its expansion into full-device production in the United States. By leveraging its existing cellular module platforms and long-standing customer relationships, Eagle aims to help customers move from component sourcing to complete, field-ready device deployment.
The company began production in Ohio in July 2025, following its launch the prior year. As production ramps, Eagle expects to activate more than $100 million in committed run-rate revenue in the module market alone over the next 12 months. It plans to deepen relationships with blue-chip customers by offering additional value through device production and design services.
Investors said the round reflects continued confidence in Eagle’s execution and strategy, particularly as supply chain resilience and domestic manufacturing capabilities become more critical to customers deploying connected technologies at scale.
With the new funding, Eagle Wireless intends to solidify its position as a leading Western module vendor, accelerate development of next-generation 5G solutions, and expand its role as a U.S.-based partner for customers building and deploying connected devices.
KEY QUOTES
“This Series B is a major milestone for Eagle Wireless and a strong validation of our long-term strategy. As the industry accelerates its transition from 4G to 5G, we are committed to investing deeply in R&D to ensure our customers have access to best-in-class connectivity solutions across both IoT and automotive applications.”
Norbert Muhrer, CEO of Eagle Wireless
“From day one, we’ve focused on building durable customer relationships through the cellular module. This raise allows us to extend that value beyond modules and into full-device solutions, helping customers simplify development, accelerate deployment, and meet the growing demands of 5G connectivity.”
TJ Dembinski, Co-Founder and President of Eagle Wireless
“Eagle Wireless is uniquely positioned to strengthen domestic technology and manufacturing capabilities. By leveraging the company’s proven cellular modules and customer relationships to support full-device production in the United States, Eagle is helping customers reduce supply chain risk while building critical connectivity infrastructure here at home.”
Mark Kvamme, Co-Founder and Chairman of Eagle Wireless, and Founder & CEO of The O.H.I.O. Fund
“Eagle Wireless has built a rare platform at the intersection of IoT, automotive, and next-generation connectivity. Their ability to evolve from a leading module supplier into a full-device partner creates a compelling growth opportunity. We’re excited to support the team in this next phase.”
Sam Clayman, Partner at Asymmetric Capital Partners
