Wi-Fi Vendor, Mimosa Networks Raises Additional $20 Million Funding
Published on: 22nd May 2014
A Californian start up Wi Fi vendor, Mimosa Networks says that it has raised USD20 million in fresh funding.
The Series C funding was led by returning investor New Enterprise Associates (NEA). Oak Investment Partners also returned for its third round of investment in Mimosa, bringing the company's total financing to $38 million.
Mimosa said that it will use the additional capital to expand its wireless product line, and significantly ramp global sales growth.
Mimosa designs and builds gigabit wireless platforms for Internet Service Providers (ISPs). Mimosa's product offering, based around a 10 Gigabit MIMO chipset will be launched later this year.
"We are pleased to announce this most recent round of funding, and look forward to not only expanding our product suite, but to also furthering our capacity for profound innovation in the space," noted Brian Hinman, co-founder and CEO of Mimosa. "The readiness of these firms to aggressively invest in Mimosa only reinforces our confidence that our upcoming product suite will be broadly embraced by the wireless industry and by service providers."