Motive Companies Announces Strategic Investment in GenXComm
FOUNTAIN VALLEY, Calif., Sept. 9, 2021 /PRNewswire/ -- Motive Companies, a leading provider of renewable energy and infrastructure solutions, today announced a strategic investment in GenXComm, an early leader in private networking solutions. Robert Istwan, CEO of Motive Companies, will join as an active member of the Board of Directors. The new funding will be used to accelerate the company's product development and commercial launch of their private 4G, LTE, and 5G network solutions, playing a critical role in ushering in the Fourth Industrial Revolution. Motive Companies will also support GenXComm's go-to-market strategy by providing access to its portfolio companies, scale, and existing customer base.
Motive Companies today announced a strategic investment in GenXComm, an early leader in private networking solutions.
Founded in 2016, GenXComm is the first company in the world to combine radio frequency and photonics to solve the problems associated with today's wireless connectivity infrastructure. The company's innovative wireless interference cancellation and mesh network technology breaks through the limits of conventional wireless capabilities, allowing for faster, more reliable, and more affordable networking solutions.
"With our substantial experience in providing telecommunication infrastructure solutions across the country, a partnership with GenXComm made sense," said Istwan. He cotinued, "I'm very proud that with GenXComm's technology, we can now offer our customers an advanced infrastructure solution to create their own private cellular network."
GenXComm's solution can be deployed for enterprise and industrial customers as a turnkey, private LTE 4G and 5G mesh network that can operate in a variety of spectrum bands, including CBRS. This unique solution optimizes performance, cost, and spectrum utilization by allowing communication to transmit simultaneously while on the same frequencies.
"Enterprise and Industrial customers worldwide are investing in the digital transformation and full automation of business processes and decision systems," said Hardik Jain, CTO of GenXComm. "GenXComm's 4G LTE and 5G cellular mesh systems will provide the enterprise WAN with the coverage, reliability, agility, and secure connectivity required to make this transformation a reality."
It was also announced today that GenXComm closed a $20 million Series B funding round led by Motive Companies, with participation from Raine Next-Gen Communications and existing investor BMW iVentures. Motive and Raine join an existing investor base that includes Intel Capital, Azure Capital, and Bandgap Ventures, amongst others.
About Motive Companies
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SOURCE Motive Companies
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