Valerie Thompson (a wealth of VC info) reports that Cambridge, a fixed wireless telecommunication equipment developer has raised 9M in Series D internal financing, making this their 4th funding round.
With this round, it has raised about $50 mln since founding just as the telecommunications market in Europe tanked. It tapped other markets, namely China. Last year it increased staff to 70, up from 50 in 2004.
Despite several rounds of venture funding, the founders are still leading the company. Prior to this venture, co-founder and CEO Peter Wharton led Adaptive Broadband, a spinoff from an Olivetti and Oracle Research Lab in Cambridge, UK in 1997. It was acquired by California microwave, which then changed its name to Adaptive Broadband. That same group of 10 people left Adaptive some 15 months later to start Cambridge Broadband in 2000.
Their main rivals, according to Cambridge, are Alvarion Ltd. (Tel Aviv and Carlsbad, CA, USA) and the San Jose-based Aperto Networks Inc.
From the Cambridge Press Release:
The new investment is being used to fund extensions to Cambridge Broadband's VectaStar wireless access and transmission product family, as well as covering medium term working capital requirements.
The investment follows Cambridge Broadband's continuing market success, with many publicly announced networks in a wide variety of geographies including Asia, Europe, Africa and the Middle East.
Peter Wharton, Chief Executive Officer of Cambridge Broadband, comments: "Our VectaStar platform is being increasingly used by cellular operators to backhaul their networks in place of traditional microwave links. This new funding helps us maintain our commitment to ongoing product development, as we continue to establish a leading role in the market."
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