Wireless point-to-multipoint transmission equipment maker Cambridge Broadband Networks has secured a $16.5m investment to fund a growth plan aimed at capitalising on demand for its microwave backhaul and access systems.
The latest funding round was oversubscribed and in addition to participation from the existing investors – Accel Partners, Adara, Amadeus Capital Partners and TVM Capital – the company secured a significant contribution from Samsung Ventures Europe.
Samsung Ventures’ investment – the first by its newly created European venture investment group – is a precursor to the development of a strategic relationship to create a new channel to market for Cambridge Broadband Network’s VectaStar point-to-multipoint systems.
Cambridge Broadband Networks will use the proceeds from the funding to invest in product development as well as its sales and customer support organisation to support its push into new geographical markets.
To date, Cambridge Broadband Networks products have been commercially deployed and technically proven in more than 30 countries, and the company is now expanding into new geographical markets as wireless networks become more widespread throughout the world.
Privately-held, Cambridge Broadband Networks has headquarters in Cambridge, with offices in Malaysia and South Africa and manufacturing facilities in China.