Eagle Wireless Raises $30 Million Series B to Accelerate R&D Efforts alongside U.S.-Based Device Production

CLEVELAND, Feb. 19, 2026 /PRNewswire/ -- Eagle Wireless, a leading U.S.-based cellular module manufacturer, today announced the successful close of a $30 million Series B financing led by Asymmetric Capital Partners and The O.H.I.O. Fund. The new investment brings Eagle Wireless' total capital raised to $44 million and positions the company to be at the center of innovation as the global connectivity ecosystem transitions from 4G to 5G.

Eagle Wireless is the only Western cellular module manufacturer serving both the IoT and automotive markets, providing customers with scalable, secure, and high-performance connectivity solutions across industrial, commercial, and vehicle platforms. The Series B capital will be used to expand research and development, advance the company's 5G roadmap, and support the company's expansion into full-device production for customers in the United States, leveraging its existing cellular module platforms and long-standing customer relationships.

"This Series B is a major milestone for Eagle Wireless and a strong validation of our long-term strategy," said Norbert Muhrer, CEO of Eagle Wireless. "As the industry accelerates its transition from 4G to 5G, we are committed to investing deeply in R&D to ensure our customers have access to best-in-class connectivity solutions across both IoT and automotive applications."

As connectivity requirements grow more complex, customers are increasingly seeking trusted partners capable of delivering not only critical components, but complete, field-ready devices. Eagle Wireless' expansion into U.S.-based device production builds on the company's proven cellular modules and enables customers to bring products to market faster while benefiting from domestic manufacturing and supply chain resilience.

"From day one, we've focused on building durable customer relationships through the cellular module," said TJ Dembinski, Co-Founder and President of Eagle Wireless. "This raise allows us to extend that value beyond modules and into full-device solutions, helping customers simplify development, accelerate deployment, and meet the growing demands of 5G connectivity."

The Series B was co-led by existing investors, reflecting continued confidence in Eagle Wireless' execution, technical depth, and expansion strategy.

"Eagle Wireless is uniquely positioned to strengthen domestic technology and manufacturing capabilities," said Mark Kvamme, Co-Founder and Chairman of Eagle Wireless, and Founder & CEO of The O.H.I.O. Fund. "By leveraging the company's proven cellular modules and customer relationships to support full-device production in the United States, Eagle is helping customers reduce supply chain risk while building critical connectivity infrastructure here at home."

Eagle was only founded in 2024 and this fundraise comes on the back of a major growth year for the business after having turned on production in Ohio in July of 2025. As production ramps, Eagle expects to turn on over $100mm of committed run-rate revenue over the next 12 months in the module market alone. The business then plans to use its relationship with blue-chip customers to offer additional value through device production and design services.

"Eagle Wireless has built a rare platform at the intersection of IoT, automotive, and next-generation connectivity," said Sam Clayman, Partner at Asymmetric Capital Partners. "Their ability to evolve from a leading module supplier into a full-device partner creates a compelling growth opportunity. We're excited to support the team in this next phase."

With this Series B financing, Eagle Wireless plans to cement its position as the leading Western module vendor, accelerate development of next-generation 5G solutions, and expand its role as a trusted U.S.-based partner for customers deploying connected devices at scale.

To get in touch with the Eagle Wireless team, reach out at [email protected].

About Eagle Wireless

Eagle Wireless is a provider of global IoT products and manufacturing services. With offices in North America, Europe, and APAC, Eagle works with customers worldwide, providing trusted wireless and manufacturing solutions for secure supply chains across the IoT and automotive industries. For more information, visit eaglewireless.com

About Asymmetric Capital Partners

Founded in 2021, Asymmetric Capital Partners ("Asymmetric") is an early-stage technology investment firm purpose-built to back founders with conviction, concentration, and real operational support. The firm invests in disruptive technology-driven companies in the Pre-seed through Series A stages. Asymmetric's DNA is different by design: its team blends rigorous investing experience with hands-on operating expertise, having built, scaled, and acquired companies themselves. This allows Asymmetric to partner with founders as true thought partners — from refining an idea pre-launch to building go-to-market strategies, recruiting key executives, or pursuing acquisitions. With over $240 million in assets under management, Asymmetric has backed nearly 90 companies to date.

About The O.H.I.O. Fund

TOF Manager, LLC dba The O.H.I.O. Fund is a private fund investment adviser committed to investing in and partnering with innovative entrepreneurs, business leaders, and co-investors who, like them, call Ohio home. With a unique investment thesis focused on leveraging Ohio's momentum, The O.H.I.O. Fund supports growth in advanced manufacturing, biotech, real estate, infrastructure, and other sectors where Ohio leads. The team brings deep experience and a robust statewide network to connect leaders and unlock the state's most promising opportunities. Learn more at www.theohiofund.com.

SOURCE Eagle Wireless