Where are venture capitalists spending their money?

Telecom startups, including a significant number of wireless players, raked in more than $120 million in venture capital funding during the fourth quarter, according to the National Venture Capital Association. Companies rolling in the greenbacks during the period included IPWireless, Flurry, Ortiva Wireless and a range of other firms. And though venture capital funding in the telecommunications sector declined to just $558.7 million last year, down from $1.67 billion in 2008, according to the NVCA, many in the wireless space expect the pace of funding to significantly quicken in the coming quarters. Indeed, earlier this week, newcomer SpiderCloud Wireless, which makes an indoor wireless system for operators to help solve indoor capacity and coverage issues, closed on a $25 million round of Series B financing led by Opus Capital with investments from Shasta Ventures. Special feature

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