Tarana Wireless, Inc., a Milpitas, Calif.-based provider of fixed wireless access network solutions, raised $30m preferred stock financing.
The round was led by new investor Prime Movers Lab. Others participating in the round included new investors Liberty Latin America Ventures and Liberty Global Ventures, as well as individual and previous investors. Dakin Sloss, partner at Prime Movers Lab, was recently appointed member of Tarana’s board of directors.
The proceeds will be used to continue customer trials of Tarana’s Gigabit 1 (G1) wireless broadband solution and to prepare for and commence the commercial launch of its G1 products.
Led by Kranti Kilaru, president, Tarana Wireless is a provider of fixed wireless access network solutions, powered by a Gigabit 1 fixed access system, whose capabilities enable rapid deployment of new broadband service options at massive scale, fostering competition and improving customer experiences in a wide range of service segments, from high-density residential to sparse, underserved rural communities. The company is now engaged with a number of providers in the Rural Digital Opportunity Fund (RDOF) bidding process in the US, using CBRS and 5 GHz spectrum, along with multinational companies focused on mainstream markets in both the US and globally.
The company is headquartered in Milpitas, California, with additional research and development in Pune, India.