Wavesat announced it raised $14.4 million from a group of VC firms to grow the company's 4G chipset efforts. The company's Odyssey chipsets are attractive because Wavesat is embracing multiple broadband wireless technologies, which, for instance, are promised to enable seamless roaming between WiMAX and LTE.
Recently, Wavesat's 4G Odyssey chipsets were chosen by Japanese wireless operator Willcom for use with its XG-PHS services and gear slated to be deployed in Japan. XG-PHS technology is an OFDMA-based standard designed to deliver advanced wireless broadband services and data speeds.
"We are impressed by the great strides the company has made since the introduction of the Odyssey chipset and how they are executing and adapting their 4G strategy in this challenging environment," said Jean Bedard, BDR Capital's managing partner, in a statement. BDR Capital led the latest round of Wavesat financing. Other investors include BDC Capital and Multiple Capital.
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