RENO, Nev., Aug. 19, 2015 /PRNewswire/ -- AirWire Technologies, a global supplier of next-generation mobile wireless networking products to the mobile Internet infrastructure market, today announced the first closing of its $10 million Series D financing. The first closing was for an amount of $5 million. The round was led by GoPro's Founding investor and Chairman, Dean Woodman. Woodman soon relinquished the role of Chairman to his son and GoPro inventor, Nick Woodman.
The AirWire LTE-Advanced WiFi Mobile Hotspot provides Internet connectivity via its built-in WiFi hotspot, Bluetooth and USB capabilities. The product operates standalone, enabling multiple devices to connect simultaneously. Laptops, gaming consoles, tablets and all other WiFi devices can now access the Internet anywhere through AirWire's integrated LTE network connectivity.
"The additional funding further validates our company-wide progress, expanding technology resources and company direction," said Debashis Bagchi, AirWire Technologies President & CEO. "This investment facilitates our ramp to volume production as we move forward with the marketing and distribution of our products in India, Indonesia, the Philippines, Latin America and the U.S."
The on-going Series D financing will help expand the company's operations, engineering team and customer support structure as AirWire Technologies begins production shipments to leading carriers in India, Indonesia and the Philippines in 4Q 2015.
The AirWire LTE-Advanced WiFi Mobile Hotspot can be connected directly to a computer through the USB port, enabling LTE data speeds of 150 Mbps to 225 Mbps in any connected device. It supports both LTE-TDD and LTE-FDD. WiFi support covers 802.11 b/g/n, conveniently supporting all WiFi devices. In addition, AirWire's technology and LTE stack via eMBMS allows for real-time media streaming on YouTube and Netflix.
About AirWire Technologies
Headquartered in Reno, Nev., AirWire is a global supplier of next-generation mobile wireless networking products to the mobile Internet infrastructure market. AirWire designs, develops, and commercially sells mobile wireless products including LTE WiFi Mobile Hotspots and LTW WiFi Gateways amongst others, incorporating proprietary antenna solutions based on patented AirWire technology for HD quality multimedia delivery. AirWire's wireless products and proprietary AirWire technology are designed for 4G/LTE, WiFi, Bluetooth, 3G generation products and other mobile applications. AirWire is well suited for applications that require high throughput in a noisy multipath environment. For more information, visit www.airwiretech.com.
AirWire is a trademark of AirWire Technologies.
SOURCE AirWire Technologies