|
 |
PRESS RELEASE Beceem Raises Over $40 Million in Series D-Round Financing; NEC Joins as Strategic Investor Added Resources to Enable Beceem to Expand its Mobile 4G-WiMAX Leadership Santa Clara, Calif., Feb. 7, 2007 - Beceem Communications (www.beceem.com), the leading provider for Mobile 4G-WiMAX chipsets, today announced that it has raised more than $40 million in Series D-round financing that will enable Beceem to expand its leadership position in the Mobile 4G-WiMAX market. The round was led by Teachers' Private Capital and joined by NEC Corporation, a new investor in Beceem, adding to the company's list of strategic investors. The funding will be used to accelerate the company's existing roadmap toward achieving robust growth in the 4G-WiMAX market by investing in new product initiatives and strengthening Beceem's development capabilities for next-generation mobile broadband solutions. The additional funding will also allow Beceem to continue to increase critical resources in support of its growing number of customer engagements. All of Beceem's existing financial and strategic investors participated in the financing. The list of both new and existing investors in the Series D-round included: Global Catalyst Partners, Intel Capital, Khosla Ventures, KTB Ventures, Mitsui & Co. Technology Investment Group, NEC Corporation, DoCoMo Capital, Samsung Ventures, Sequoia Capital, Teachers' Private Capital, and Walden International. "The mobile 4G-WiMAX market is a space with significant investment opportunities," said Mary Dotz, CFO of Beceem. "We are proud that some of the most sophisticated investors in the industry have recognized our market position and growth potential, as evidenced by their investment in Beceem. The funding is critical for us to continue the growth of our organization as we scale for success at a time of exponential growth in the Mobile 4G-WiMAX market," she added. About Beceem Communications Beceem Communications Inc. was founded in October 2003 with the goal of building a wireless technology company offering semiconductor solutions for the wireless broadband market. Beceem is the leading supplier of chipsets for the recently ratified, IEEE 802.16e standard on which Mobile 4G-WiMAX is based. The company's solutions target both base station and subscriber terminal applications. Beceem combines an experienced management team with strong technology leadership and seasoned Silicon Valley investors, along with a world class team of engineers. For more information please visit www.beceem.com “WiMAX Forum” is a registered trademark of the WiMAX Forum. “WiMAX ,” the WiMAX Forum logo, "WiMAX Forum Certified," and the WiMAX Forum Certified logo are trademarks of the WiMAX Forum. All other trademarks are the properties of their respective owners. Media Contacts Lars Johnsson Elizabeth Villanueva or Valerie Christopherson |
||