Beceem raises $40M more for mobile WiMax offering
Santa Clara’s Beceem Communications, a leading provider of WiMax chips for mobile phones, said it has raised more than $40 million in a fourth round of financing, and may raise more.
The promise of WiMax is that it ranges as far as 10 miles, while WiFi reaches only a few hundred feet. It’s challenge is that is just now being rolled out, and so it is untested in most of the world. Intel wants to use WiMax to allow someone to get wireless access on a laptop anywhere, and has backed Beceem’s efforts to jump straight to a mobile version of WiMax. See our story here on Beceem.
The lastest round was led by Teachers’ Private Capital and joined by NEC, a new investor in Beceem, the latest in a growing list of Beceem’s strategic investors. All existing investors participated. See full list here. They include everyone from Intel Capital, to Khosla Ventures and Sequoia Capital.
The company has now raised $90 million.
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