Tarana Secures First $24 Million of New $60 Million Equity Financing | Financial Buzz

Tarana Secures First $24 Million of New $60 Million Equity Financing

Tarana Wireless Inc. (“Tarana”) today announced that it received $24 million of follow-on preferred equity in January with commitments for $36 million of additional preferred equity through October 2020 to fund the completion of the company’s pre-commercial efforts, including readiness for mass production of its revolutionary Tarana G1™ Gigabit residential broadband platform. The financing also supports expansion of Tarana’s Silicon Valley-based live demonstration network which currently provides broadband connectivity to over 100 sites – mostly non-line of sight – at distances up to 15 km from a single sector base-node.

Company founder and Chief Operating Officer Sergiu Nedevschi stated, “We are thrilled to commence the manufacturing of our proprietary integrated circuits and we are in the process of finalizing our cloud-based controller, which will enable ultra-fast deployment of our radio platform at massive scale. As we look to bring our commercial products to market later this year, the overwhelming positive response from operators running their own Tarana-based pilot networks has reinforced both the transformational nature of our technology and the pressing market need for such a solution.”

Greg Wyler, investor and board member through 1010 Holdings stated, “Tarana has developed the world’s first and only fixed wireless technology with built in anti-jamming interference cancellation capability. This allows Tarana to unlock over 300MHz of unlicensed spectrum for direct-to-consumer broadband applications which will drive down costs and help bridge the digital divide. Until now, you needed large amounts of licensed spectrum to provide wireless broadband. Tarana enables true fiber quality broadband to users tens of miles away using free, unlicensed spectrum.”

Tarana is bringing its technology to market just as consumer demand is exploding for services such as over-the-top streaming video, uplink camera and security applications, and low latency gaming. Tarana’s long-range and low-cost network technology can bring to suburban and rural markets the kind of speed and performance that has been largely reserved for urban markets. Given these changing market dynamics and the performance, reliability and low cost of Tarana’s solution, Tarana and its operator partners are well positioned to become leaders in the delivery of broadband solutions to consumers worldwide.

About Tarana

Tarana is the performance leader in fixed wireless access network solutions, powered by a number of industry firsts and well proven innovations in perfect, multidimensional optimization of radio signals. Tarana has created a new class of radio technology with unprecedented immunity to obstructions, interference, changing conditions and spectrum scarcity. Tarana’s fixed wireless access technology will drive a tenfold improvement in network economics of gigabit broadband access at massive scale. The company is headquartered in Milpitas, California, and has a development site in Pune, India. For more information, visit www.taranawireless.com

About EchoStar

EchoStar (Nasdaq: SATS) is a premier global provider of satellite communication solutions. Headquartered in Englewood CO. and conducting business around the globe. EchoStar is a pioneer in secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments. For more information, visit www.echostar.com

About Khosla Ventures

Khosla Ventures is a venture capitalist firm that provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. The firm was founded in 2004 by Vinod Khosla, co-founder of Sun Microsystems. The firm focuses on investing in companies with transformative technology. Khosla Ventures is headquartered in Menlo Park CA. For more information, visit www.khoslaventures.com

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