MILPITAS, Calif.--(BUSINESS WIRE)--Tarana Wireless Inc. today announced a $30 million preferred stock financing 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. The proceeds will be used to continue customer trials of Tarana’s revolutionary Gigabit 1 (G1) wireless broadband solution and to prepare for and commence the commercial launch of its G1 products.
Dakin Sloss, partner at Prime Movers Lab and recently appointed member of Tarana’s board of directors stated, “We invest in companies that can have a transformative impact on people’s lives. Tarana’s remarkable breakthroughs in radio performance will do just that, removing barriers to much better broadband service in both developed and underserved markets across the globe.”
Kranti Kilaru, president of Tarana, stated, “This new financing provides the fuel we need for full launch of the G1 system and substantial expansion of our market engagements. We’re pleased to have the opportunity to tap Basil Alwan’s extensive experience in large-scale networking to help chart our course on this next stage of our journey.”
G1’s unprecedented capabilities enable rapid deployment of new broadband service options at massive scale, fostering healthy competition and significantly 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.
Tarana Wireless, Inc. is the performance leader in fixed wireless access network solutions, powered by a number of industry-first and well-proven breakthroughs in perfect, multidimensional optimization of radio signals. Its Gigabit 1 fixed access system overcomes previously insurmountable network economics challenges for service providers in both mainstream broadband and underserved markets, using free unlicensed spectrum. The company is headquartered in Milpitas, California, with additional research and development in Pune, India. Please visit https://www.taranawireless.com for more information.
About Prime Movers Lab
Prime Movers Lab invests in breakthrough scientific startups founded by Prime Movers, the inventors who transform billions of lives. We invest in seed-stage companies reinventing energy, transportation, infrastructure, manufacturing, human augmentation and computing. Portfolio investments span in-space transportation, industrial solar heat, ag tech, brain upgrades, nano-structured materials, wafer slicing, prosthetics, 3D printing, mobility, longevity, and AI. For more information, please visit https://www.primemoverslab.com.
About Liberty Latin America
Liberty Latin America (NASDAQ: LILA) is a leading communications company operating in over 20 countries across Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil, BTC, UTS, and Cabletica. The communications and entertainment services it offers its residential and business customers in the region include digital video, broadband internet, telephony, and mobile services. For more information, please visit www.lla.com.
About Liberty Global
Liberty Global (NASDAQ: LBTYA, LBTYB, and LBTYK) is one of the world’s leading converged video, broadband, and communications companies, with operations in 6 European countries under the consumer brands Virgin Media, Telenet, and UPC. We invest in the infrastructure and digital platforms that empower our customers to make the most of the digital revolution.
Our substantial scale and commitment to innovation enable us to develop market leading products delivered through next-generation networks that connect 11 million customers subscribing to 25 million TV, broadband internet, and telephony services. We also serve 6 million mobile subscribers and offer WiFi service through millions of access points across our footprint.
In addition, Liberty Global owns 50% of Vodafone Ziggo, a joint venture in the Netherlands with 4 million customers subscribing to 10 million fixed line and 5 million mobile services, as well as significant investments in ITV, All3Media, ITI Neovision, LionsGate, the Formula E racing series, and several regional sports networks. For more information, visit www.libertyglobal.com.