Wifi Revolution

Only a month after being recognized in a special section featuring The Wall Street Journal’s 2006 Technology Innovation Awards contest winners, Ekahau Inc., today announced that it has attracted a total of $16 million in financing in 2006, including $12 million in Series B equity funding and $4 million of venture loans and government funding. New investors include several large international investors, with founding investor Nexit Ventures participating. These investors include 3M Company, Finnish Industry Investment Ltd., Sampo Group, the Finnish Funding Agency for Technology and Innovation TEKES and a group of individual investors.

The funding will allow the company to continue its aggressive growth and international expansion in the Wi-Fi RTLS (Real Time Location System) and Wi-Fi tools markets. Ekahau provides wireless enterprise solutions across multiple industry segments to improve enterprise asset utilization, process workflows and employee safety and security.

Ekahau plans to use the infusion of capital to fund its growth and international expansion, R&D, sales and marketing efforts. The company will invest significantly in building out its sales and marketing, engineering and support organization, and continuing its RTLS innovation. With several new products in the pipeline for 2006 and 2007, the company is extremely well positioned to continue its market and technology leadership.

"This new investment in Ekahau is a validation of our business to date, as well as of our vision of driving the Wi-Fi market beyond its traditional use of voice and data," says Antti Korhonen, president and CEO of Ekahau. "Our company has developed a strong reputation and good brand recognition in several industrial segments, including manufacturing and health care. With this new funding, we are now moving to the next phase of our aggressive plan to deliver more innovative RTLS and wireless solutions worldwide."

------

 

Back to WiFi Revolution home