Soma secures $50M in financing

Wireless "last mile" developer SOMA Networks reports it has raised $50 million million in new funding. The latest financing round, led by Temasek Capital and Morgan Stanley Venture Partners, complements $15 million in strategic financing SOMA closed in late 2004. SOMA says the financing has been earmarked for global expansion.

With its wireless technology, SOMA aims to solve the problem of the last-mile using a wireless technology hybrid of WiMax and HSDPA. The firm promises to help providers cover local access markets rapidly and cost-effectively and to provide broadband, voice and applications service segments over a single system.

For more on Soma's jackpot:
- read this company press release

PLUS: WiMax moving closer to reality. Article