Verana Networks, a Waltham, Mass.-based 5G radio access network (RAN) solution provider, closed an $11m Series A financing.
The round was led by Spark Capital with participation from Aspiro Capital, DC Investment Partners and Bold Capital. In conjunction with the funding, Santo Politi from Spark Capital has joined erana’s board of directors.
The company is using its Series A funding to build the team with deep expertise in the design and development of sophisticated radio access network products.
Founded by Vedat Eyuboglu and Amit Jain, Verana Networks is designing a 5G radio access network (RAN) solution to reduce the cost of building 5G in millimeter wave (mmWave) spectrum, enabling mobile operators to bring 5G – gigabit speeds with low latency – everywhere.
The solution is based on a patent-pending network design, supports 3GPP 5G New Radio (5G-NR) specifications and Open RAN Alliance (O-RAN) interfaces. Mobile operators can use its products to offer gigabit 5G to smartphones and 5G-based fixed wireless access.