ip.access Announces Successful Further Funding Round
ip.access has announced a further funding round from Amadeus Capital Partners as well as their existing investors to fuel growth. Amadeus Capital Partners will work alongside ip.access' management and the current VC team of Scottish Equity Partners, Rothschild & Cie Gestion, Intel Capital Corporation and Motorola Ventures to help the company grow its annual turnover from today's $25m annual run-rate to the target of $100m+.
Capital raised through this funding round will be used to accelerate the development of ip.access' Oyster 3G consumer femtocell product. The investment is confirmation of the high level of confidence in the market potential for the Oyster 3G product. ip.access believes that 2007 will be a key year in the development of consumer femtocells and discussions are underway with operators around the world regarding integration of ip.access' Oyster 3G into existing networks.
Operator lab-trials of the Oyster 3G are currently being planned and the company is preparing for network operators to commence user trials in the middle of this year. Volume deployments of the product are expected to follow in early 2008. In addition, the company has recently concluded a major manufacturing deal with Taiwanese company USI and has forged relationships with distributors covering markets as diverse as Venezuela and the CIS. The industry is also recognising ip.access' pre-eminence in the picocell sector with the company's Oyster 3G product shortlisted in the GSM Association's best radio access product category for the 2007 3GSM World Congress in Barcelona.
While the Oyster 3G represents a huge opportunity for the company, ip.access continues to invest in its 2G and 2.5G nanoGSM business. The company intends to grow its presence in this sector by making picocell deployments even easier and more cost effective for operators through enabling simpler integration, management & support.
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