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Verana Networks announces field trial agreement with Verizon for its ground-breaking 5G mmWave IAB solutionIndustry's first multi-hop Integrated Access and Backhaul (IAB) solution will dramatically reduce the cost of 5G radio network deployments on mmWave spectrum CHELMSFORD, Mass., Feb. 2, 2023 /PRNewswire/ -- Verana Networks, a developer of innovative 5G radio-access networks (RAN) solutions for mmWave spectrum, announced today it will conduct field trials of its ground-breaking 5G mmWave Integrated Access and Backhaul (IAB) solution with Verizon. Verana's mmWave 5G small cells can provide wireless backhaul to other Verana 5G small cells while continuing to provide 5G access to smartphones and fixed wireless access (FWA) devices. Verana's scalable, multi-hop IAB solution reduces the number of fiber backhaul links required to build a mmWave 5G network by more than 90% – reducing CapEx and OpEx, while increasing flexibility in site selection and the speed of network rollout. "Millimeter wave spectrum is abundant and inexpensive but providing 5G coverage using this spectrum is cost-prohibitive today," said Vedat Eyuboglu, CEO, and co-founder of Verana Networks. "To transform the economics of mmWave 5G deployment, Verana is building a mmWave 5G RAN solution with integrated multi-hop wireless self-backhaul and several other innovations that optimize system cost, power consumption and performance. W are excited to work with Verizon to make this vision a reality." "Millimeter wave spectrum is the foundation of Verizon's 5G Ultra Wideband service, providing faster speeds and massive bandwidth for streaming, gaming, and connecting – at home or at work," said Bill Stone, VP of Technology and Planning at Verizon. "Verana's multi-hop IAB solution promises to enhance our 5G network performance even more. We look forward to trialing it to enhance the reach of our 5G Ultra Wideband network." Verana offers a complete, virtualized RAN solution, including purpose-built, plug-and-play 5G small cells providing 360o coverage for both access and backhaul that reduce cost and simplify deployment. All Verana products are 3GPP and O-RAN compliant. Verana has raised more than $43 million in venture capital in two funding rounds since its founding in early 2020, including investment from Verizon's corporate venture organization, Verizon Ventures. To learn more about Verana Networks, please visit verananetworks.com or follow the company on LinkedIn and Twitter @Verana_Networks. About Verana Networks Verana Networks is building an innovative 5G Radio Access Network (RAN) solution for service providers and enterprises that have access to licensed millimeter wave (mmWave) spectrum. Founded in 2020 by a team with a track record of developing innovative RAN products, from the world's first all-IP 3G base stations to pioneering residential femtocell and enterprise small cell solutions, Verana Networks is backed by experienced venture capital firms and headquartered in Massachusetts. For more information, visit www.verananetworks.com. Media contact: John O'Malley
SOURCE Verana Networks 
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