AirFiber technology lands $50 M in funding
San Diego-based AirFiber Inc. just won $50 million in its third round of financing. The funds will go to operations, and continued product development, sales and marketing, said Geoff Mordock, who manages AirFiber's PR.
AirFiber's equipment connects buildings within a 200- to 500-meter range with a "tremendous" amount of broadband service via equipment that shoots lasers between two points, Mordock said. The lasers can link four times within the wired area.
The idea is to bring broadband from the fibers or cable going up to the campus or buildings, and transmit it through the air via lasers. The technology means no extra fiber or cable needs to be installed, which saves AirFiber customers time and money, Mordock said. "A lot of companies are having financial problems and need to recognize revenue quickly."
"The technology has been used by the military," he added. The lasers are safe for eyes — Class-one level — and are affected by fog, but not other weather.
The financing is a validation of the industry and the company as being in the forefront, "especially now, in this market," he said. The $50 million follows an initial $5 million in seed money three years ago and a second, $3.75 million round in August 1999.