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BelAir coffers swell

Tue, 10/31/2006 - 7:00pm
Staff

BelAir Networks, a maker of mobile wireless broadband mesh network systems, has raised $21.4 million in a "D" round led by Venture West Management Inc.

To date, the Kanata, Ontario-based company has raised more than $65 million.

Existing investors Comcast Interactive Capital, T-Mobile Venture Fund, Panorama Capital, VenGrowth Capital Partners Inc., BDC Venture Capital, and MMV Financial also participated in the round. MMV also provided BelAir with a $5 million venture loan. Newcomer Trilogy Equity Partners also participated in the "D" round.

BelAir said it will use the new funds to support the wireless municipal sector, where it recently won bids for citywide networks in Minneapolis, London (U.K.), and Toronto, Canada.

Funds will also be shuttled toward the company's sales and marketing efforts in the cellular and cable industries.

On the latter strategy, the company announced in January the establishment of a cable Technical Advisory Board (TAC) comprised of cable execs.

At the 2006 National Show, company officials noted that a number of cable operators were already installing BelAir's gear for forthcoming deployments. BelAir or its cable partners have yet to announce any specific trials or installations, but BelAir claims to have more than 150 wireless networks deployed worldwide.

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