BridgeWave Raises $10 Million

BridgeWave Communications, a Santa Clara, Calif.-based provider of gigabit wireless solutions, has raised around $10 million in new VC funding. Core Capital Partners and Intel Capital co-led the round. The company has now raised over $70 million since 1999.

 

PRESS RELEASE

Core Capital Partners, a leading venture capital firm that invests in disruptive technologies, announced today its principal participation in a $10 million funding round for Santa Clara, Calif.-based BridgeWave Communications, the key supplier of gigabit wireless solutions. Co-led by Intel Capital, the funding will be used to develop and market products that support the significantly larger high capacity backhaul requirements of next generation wireless networks.

In a world of exploding data usage on mobile phones, BridgeWave's technology is a key element of future backhaul transport capacity, thanks in large part to its unmatched product performance and reliability, said Pascal Luck, managing director at Core Capital Partners who will join BridgeWave's board of directors. Securing new funding means securing new options for customers who need an alternative to fiber optic base station connectivity. BridgeWave is in a unique position to use its gigabit wireless technology to provide alternative to fiber transport and help clear a path for smooth, reliable next generation wireless data.

Core Capital and Intel Capital's strategic and financial support will further enable BridgeWave to address the requirements of first-tier mobile network operators, easing the transition to next generation mobile deployments worldwide, said Amir Makleff, president and CEO of BridgeWave Communications. By joining forces with Core Capital Partners, we can integrate Core's experience and enthusiastic, hands-on involvement into the future of our company and our business.

The total addressable market for high capacity, short range wireless products is growing 60 percent per year, according to an EJL Wireless Research report from September 2007. Core Capital Partners and Intel Capital's funding round will be used to continue BridgeWave's development of gigabit wireless technologies as organizations and carriers seek next-generation wireless backhaul solutions.

About Core Capital

Core Capital Partners is a venture fund headquartered in Washington, D.C. The firm currently manages $350 million and provides capital to both early and mid-stage technology ventures. Core focuses on the kinds of core or fundamental technologies that enable or enhance information, data, and communications, including consumer Internet and media, and wireless software and services. The firm also invests in infrastructure, logistics, medical technologies and cleantech. To date, Core has backed over 40 companies, working closely with entrepreneurs and management teams to build market-dominating enterprises. To learn more, please visit our website www.core-capital.com.

About BridgeWave Communications

Founded in 1999, BridgeWave Communications is the leading supplier of Gigabit Ethernet outdoor wireless connectivity solutions. The company's exclusive AdaptRate