Next Generation Wireless Technology Developer Cyneta Networks Closes $3 Million Series A Round With Vortex Partners, Crescendo Ventures And Taleria Ventures

Apr 16, 2001, 01:00 ET from Cyneta Networks

    PLANO, Texas, April 16 /PRNewswire/ -- The recent closing of a $3 million
 Series A funding round will bring Plano, TX-based Cyneta Networks much closer
 to its objective of commercializing wireless technology that dramatically
 increases the profitability of delivering 2.5/3G wireless content services.
 Announced today, the round was lead by Dallas investor Vortex Partners with
 Crescendo Ventures and Taleria Ventures also participating.
     Cyneta addresses key issues such as service provider capital utilization
 that make 2.5/3G wireless content delivery services so difficult to deploy
 profitably. The company is developing a solution that increases quality of
 service, security, spectrum efficiency, and service deployment -- each of
 which is a prerequisite to the successful development of the wireless IP
 business model for the service provider.
     "Great core technology, an experienced development team and a compelling
 business model earned the trust and financial support of three high-quality
 investment firms," said Doug Smith, co-founder of Taleria Ventures and board
 member of Cyneta Networks. "Cyneta is in the early stages of developing
 wireless technology and will benefit greatly from the relationships and
 support these firms will provide as the company completes product development
 and moves to commercialization."
     In addition to great technology and support from three experienced venture
 capital firms, Cyneta Networks co-founders Jogen Pathak and
 Shridhar Krishnamurthy have over 28 years combined experience in the mobile
 wireless, data networking and telecommunication equipment industries with
 companies such as Nortel Networks, Intel, and Motorola. Cyneta Networks is
 building a team of talented individuals with proven experience in the design,
 development, manufacturing and marketing of wireless and telecommunications
 equipment.
     "We caught the attention of our new investment partners because we are
 developing some very interesting technology that uniquely enables service
 providers to maximize return on capital for 2.5G and 3G networks," said
 Jogen Pathak. "We will create new revenue streams for the service providers."
     "There is no better endorsement of a company in today's investment climate
 than the support of strong venture capital partners," added
 Shridhar Krishnamurthy. "Crescendo brings strong relationships and expertise
 as one of the most active wireless industry VCs, Vortex specializes in early
 stage communications infrastructure and wireless technologies and Taleria
 offers deep wireless industry knowledge and an impressive history at building
 companies."
     "What we really liked is that Cyneta is developing an intelligent wireless
 IP solution that we believe will be required by wireless service providers who
 will look to IP services as a key strategic focus," said Victor Liu, general
 partner with Vortex Partners.
     "Successful wireless companies will differentiate themselves in areas that
 are critical for the evolution to 2.5 and 3G IP services," said Crescendo
 Ventures Partner Jeff Hinck. "Cyneta is an innovative company that has clearly
 identified a real need for the enterprise and for the optimization of wireless
 service providers' business models."
 
     About Cyneta Networks, Inc.
     Founded in January 2000 and headquartered in Plano, TX, Cyneta Networks,
 Inc. is a wireless Internet network infrastructure company focused on
 delivering products and solutions to Service Providers that optimize wireless
 IP communications in substantial ways. Cyneta's network platform will bring
 enhanced subscriber experience and for the first time will enable Service
 Providers to efficiently deploy new services and applications into their
 network. For more information, please visit www.cynetanetworks.com.
 
     About Vortex Partners
     Based in Dallas, Vortex Partners invests in emerging technology and
 communications companies, focusing on funding seed and first rounds of
 finance. Vortex' $50 million second round focuses on communications
 infrastructure, wireless technologies and business applications and services.
 While the fund invests in promising startups on a national basis, a
 significant portion of the fund's capital will be invested in Texas and
 particularly in Richardson's Telecom Corridor. For more information, please
 visit www.vortexpartners.com.
 
     About Crescendo Ventures
     Crescendo Ventures is a global venture capital firm that accelerates the
 growth of companies by providing seed and early-stage funding in
 communications and Internet infrastructure. A new breed of venture capital
 firm, Crescendo Ventures collaborates with and supports entrepreneurs, using
 its industry expertise and personal approach to nurture promising ideas and
 companies to their full potential. Founded in 1993, Crescendo Ventures manages
 more than $1 billion from its headquarters in Palo Alto, California and
 offices in Minneapolis and London. For additional information on Crescendo
 Ventures or its portfolio, please visit www.crescendoventures.com.
 
     About Taleria Ventures
     Taleria Ventures is a private investment firm that partners with
 entrepreneurs and venture capital firms to create companies capable of
 sustained high growth and value. Working primarily in the telecommunications
 industry, Taleria invests both capital and the time of its principals to
 accelerate businesses. Taleria's partners, all with significant experience
 building companies, take a very active role in the entities in which they are
 involved, including management positions. Taleria, with offices in Dallas and
 Denver, can be reached at 972-473-2396 or 303-679-3120.
 
 

SOURCE Cyneta Networks
    PLANO, Texas, April 16 /PRNewswire/ -- The recent closing of a $3 million
 Series A funding round will bring Plano, TX-based Cyneta Networks much closer
 to its objective of commercializing wireless technology that dramatically
 increases the profitability of delivering 2.5/3G wireless content services.
 Announced today, the round was lead by Dallas investor Vortex Partners with
 Crescendo Ventures and Taleria Ventures also participating.
     Cyneta addresses key issues such as service provider capital utilization
 that make 2.5/3G wireless content delivery services so difficult to deploy
 profitably. The company is developing a solution that increases quality of
 service, security, spectrum efficiency, and service deployment -- each of
 which is a prerequisite to the successful development of the wireless IP
 business model for the service provider.
     "Great core technology, an experienced development team and a compelling
 business model earned the trust and financial support of three high-quality
 investment firms," said Doug Smith, co-founder of Taleria Ventures and board
 member of Cyneta Networks. "Cyneta is in the early stages of developing
 wireless technology and will benefit greatly from the relationships and
 support these firms will provide as the company completes product development
 and moves to commercialization."
     In addition to great technology and support from three experienced venture
 capital firms, Cyneta Networks co-founders Jogen Pathak and
 Shridhar Krishnamurthy have over 28 years combined experience in the mobile
 wireless, data networking and telecommunication equipment industries with
 companies such as Nortel Networks, Intel, and Motorola. Cyneta Networks is
 building a team of talented individuals with proven experience in the design,
 development, manufacturing and marketing of wireless and telecommunications
 equipment.
     "We caught the attention of our new investment partners because we are
 developing some very interesting technology that uniquely enables service
 providers to maximize return on capital for 2.5G and 3G networks," said
 Jogen Pathak. "We will create new revenue streams for the service providers."
     "There is no better endorsement of a company in today's investment climate
 than the support of strong venture capital partners," added
 Shridhar Krishnamurthy. "Crescendo brings strong relationships and expertise
 as one of the most active wireless industry VCs, Vortex specializes in early
 stage communications infrastructure and wireless technologies and Taleria
 offers deep wireless industry knowledge and an impressive history at building
 companies."
     "What we really liked is that Cyneta is developing an intelligent wireless
 IP solution that we believe will be required by wireless service providers who
 will look to IP services as a key strategic focus," said Victor Liu, general
 partner with Vortex Partners.
     "Successful wireless companies will differentiate themselves in areas that
 are critical for the evolution to 2.5 and 3G IP services," said Crescendo
 Ventures Partner Jeff Hinck. "Cyneta is an innovative company that has clearly
 identified a real need for the enterprise and for the optimization of wireless
 service providers' business models."
 
     About Cyneta Networks, Inc.
     Founded in January 2000 and headquartered in Plano, TX, Cyneta Networks,
 Inc. is a wireless Internet network infrastructure company focused on
 delivering products and solutions to Service Providers that optimize wireless
 IP communications in substantial ways. Cyneta's network platform will bring
 enhanced subscriber experience and for the first time will enable Service
 Providers to efficiently deploy new services and applications into their
 network. For more information, please visit www.cynetanetworks.com.
 
     About Vortex Partners
     Based in Dallas, Vortex Partners invests in emerging technology and
 communications companies, focusing on funding seed and first rounds of
 finance. Vortex' $50 million second round focuses on communications
 infrastructure, wireless technologies and business applications and services.
 While the fund invests in promising startups on a national basis, a
 significant portion of the fund's capital will be invested in Texas and
 particularly in Richardson's Telecom Corridor. For more information, please
 visit www.vortexpartners.com.
 
     About Crescendo Ventures
     Crescendo Ventures is a global venture capital firm that accelerates the
 growth of companies by providing seed and early-stage funding in
 communications and Internet infrastructure. A new breed of venture capital
 firm, Crescendo Ventures collaborates with and supports entrepreneurs, using
 its industry expertise and personal approach to nurture promising ideas and
 companies to their full potential. Founded in 1993, Crescendo Ventures manages
 more than $1 billion from its headquarters in Palo Alto, California and
 offices in Minneapolis and London. For additional information on Crescendo
 Ventures or its portfolio, please visit www.crescendoventures.com.
 
     About Taleria Ventures
     Taleria Ventures is a private investment firm that partners with
 entrepreneurs and venture capital firms to create companies capable of
 sustained high growth and value. Working primarily in the telecommunications
 industry, Taleria invests both capital and the time of its principals to
 accelerate businesses. Taleria's partners, all with significant experience
 building companies, take a very active role in the entities in which they are
 involved, including management positions. Taleria, with offices in Dallas and
 Denver, can be reached at 972-473-2396 or 303-679-3120.
 
 SOURCE  Cyneta Networks