Copyright 2003 ESPICOM Business Intelligence Ltd.
Espicom Business Intelligence
July 25, 2003
NextNet Wireless Inc, a provider of non-line-of-sight (NLOS) broadband wireless access systems based in Minneapolis, has raised an additional round of funding that will allow the company to expand its markets, deployments, and product offerings.
COM Holdings LLC, a private company controlled by Craig McCaw, led the round, with existing NextNet investors DCM-Doll Capital Management, Green Ventures, Globespan Capital Partners, Joseph Costello, and others participating.
Terms and size of the funding round were not disclosed.
Regarded as a pioneer and leader in the wireless communications industry, McCaw has been an active entrepreneur and investor for over 30 years. Through his private investment company, McCaw is a significant shareholder in Nextel Communications, ICO Global Communications (Holdings) Ltd., and Nextel Partners Inc. In addition, McCaw has made investments in various venture stage communications companies.
"NextNet provides a compelling solution for the growing demand for broadband communications. I am excited by the prospects, opportunities, and challenges that lie ahead for NextNet," stated McCaw.
NextNet's Expedience NLOS broadband wireless system is an IP-based network that supports delivery of all IP compatible broadband applications. These applications include the delivery of both voice and data services, such as IP telephony and video streaming and conferencing.