Quantenna Communications Closes $79M Funding Round
Quantenna Communications, Inc., a Freemont, CA-based provider of ultra-reliable Wi-Fi video networking solutions for whole-home entertainment, has closed a $79m funding round.
The round was led by new lead investor RUSNANO, with participation from a second new investor Bright Capital as well as existing investors Sequoia Capital, DAG Ventures, Grazia Equity, Sigma Partners, Southern Cross Venture Partners and Venrock Associates.
RUSNANO will invest up to $40m and Sequoia Capital Growth Fund will contribute $20m.
The company intends to use the funding to expand its engineering and service organizations, and to accelerate new product development as it enters new market segments.
Led by Dr. Sam Heidari, Chief Executive Officer, Quantenna develops standards-based 802.11n and 802.11ac MIMO chipsets, which offer high performance and coverage while providing wire-like reliability for wireless video content distribution around the home and other demanding applications. They have already been integrated into products for service providers and retail applications from companies such as AirTies, Amper, Datasat Technologies, Gemtek, Motorola, Netgear, Sagemcom, Sigma Designs, Swisscom, Technicolor and Telefónica. A number of other new domestic and international service providers are planning to deploy Quantenna 4×4 MIMO chipsets for video distribution applications.
RUSNANO’s investment will leverage synergies between Quantenna’s portfolio and a number of nanotechnology initiatives that are underway at RUSNANO, whose mission is to develop the Russian nanotechnology industry through a variety of co-investment opportunities.
In conjunction wuth the investment, RUSNANO Managing Director George Kolpachev will become a member of the company’s board of directors, and investment manager Vladislav Tropko will become a board observer. Quantenna will open a Russian subsidiary.