Bessemer invests in $40M round for Russian WiMAX operator Enforta
Enforta is a Russian company with plans to roll out WiMAX and other broadband technologies to 65 cities in its home country by the end of this year.
The company is already well established, with internet and telephone services active in 25 cities. The investment will probably go mainly toward Enforta’s growing WiMAX network. “The WiMAX business proposition takes on a whole new dimension when used to provide basic infrastructure in emerging economies,” Ron Elwell of Bessemer Venture Partners stated, as part of the prepared release.
Bessemer Venture Partners invested enough for Elwell to take a board seat on the company. Previous investors also participated in the round: Baring Vostok Capital Partners, Sumitomo Corp. and the European Bank for Reconstruction and Development.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.