|[March 15, 2011]
Altobridge Drives Growth with US$12 million Funding from Intel Capital and IFC
ORLANDO, Fla. --(Business Wire)--
Limited - leaders in technology that cuts the cost of delivering
voice and broadband data services across wireless networks - has, today, announced
that Intel Capital (News - Alert) and IFC will together invest US$12 million in the
This Series C funding round, led by Intel Capital, will provide
Altobridge (News - Alert) with additional capital to accelerate the pace of roll-out of
its award winning low-capital-cost/low-operational-cost wireless
communications solution. This solution is coming under increasing demand
to meet the wireless communications requirements of remote communities,
enerprises and schools of the world's emerging markets. The funding
will also allow the company to commercialise its mobile broadband
Data-at-the-Edge™ - a technology that demonstrates a significant
reduction in data bandwidth requirements on mobile networks.
Mike Fitzgerald, Altobridge Chief Executive, said, "Our technology
enables mobile network operators in emerging markets to cost effectively
extend their broadband services to the billion people of the world on
the other side of the digital divide. Our Data-at-the-Edge™ solution
reduces mobile network operators' backhaul requirements by at least 50%.
This strategic investment by Intel Capital and IFC will enable us to
scale commercially and to advance our R&D to further reduce transmission
costs for mobile network operators.
"Data congestion in urban area wireless networks and connecting remote
communities in rural areas are major challenges for communication
service providers," said Marcos Battisti, Director of Intel Capital
Western Europe and Israel. "Altobridge has developed the technology and
is marketing products that address these issues in a cost-effective way.
Our investment in Altobridge will help accelerate the company's growth
and wider adoption of its technology."
Commenting on its investment, Kent Lupberger, IFC Global Head of
Telecom, Media and Technology, said, "Altobridge offers an affordable,
energy-efficient, solar-powered solution that will improve the ability
of telecom operators to deliver low-cost mobile communication services
in developing countries, helping spur innovation and increase economic
Altobridge will be at CTIA (News - Alert) in Orlando, Florida, 22 - 24 March, 2011.
Visit us at booth 3010.
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