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Media Contact:
Nick Ludlum
Fusion Public Relations
+1 202 661 4664
nickludlum@fusionpr.com
SciVentures Investments, Epicorp Limited, M-Group, others Participate
in Funding
Adelaide, Australia and Orlando, Florida – January 31, 2006 – Cohda
Wireless Pty. Ltd., an innovative developer of municipal and public
safety wireless technologies, announced today that it has raised
$1.8m in its Series A round of funding. The investors in the round
are Australian based venture capitalists; SciVentures Investments,
Epicorp Limited, M-Group together with several individual investors.
The funding enables Cohda Wireless to aggressively pursue its plans
to commercialize its technology, to expand operations in the United
States, including the build-out of demonstration networks, and
will take the company to a planned $5-8m round of funding in mid-2006.
“Cohda Wireless is developing innovative technology that
enhances broadband wireless performance,” said Wayne Fitzsimmons,
Principal of the M-Group. “Municipal wireless has extraordinary
growth potential and we are confident that Cohda Wireless has the
management team and technology in place to exploit this rapidly
emerging market opportunity.”
Cohda Wireless is developing technology that enhances mobile broadband
wireless performance via advanced digital signal processing technology.
The company’s solutions overcome the limitations of existing
and emerging 802.xx wireless standards to deliver drastically increased
range, the ability to operate in outdoor, non line-of-sight (non-LOS)
environments, and high-speed mobility, fundamentally altering both
the performance characteristics and economics of muni-wireless
deployments.
Cohda Wireless gives vendors of muni-wireless networking solutions
a competitive advantage by empowering them with technology that
drastically reduces the number of devices needed per square mile
required to deliver robust broadband wireless in outdoor, non-LOS
and high-speed mobile deployments. The company’s technology
is currently under development and will be formally unveiled in
the third quarter of 2006.
“Cohda Wireless’ technology is already being demonstrated
in trial deployments in Australia,” said Martin Suter, CEO
of Cohda Wireless. “This round of funding will enable us
to advance product development to commercialization, and to build
trial networks in the US, enabling us to further develop relationships
with muni-wireless OEMs who can leverage our technology to improve
the performance and reduce the cost of their networks.”
Cohda Wireless had previously been funded by research grants and
seed capital from the SciVentures Pre-Seed Fund, the Epicorp Seed
Fund and the University of South Australia’s commercialisation
arm, ITEK.
About Cohda Wireless Pty Ltd.
Cohda Wireless is headquartered in Adelaide, Australia and with
US operations in Orlando, Florida,. Cohda enhances broadband
wireless performance via advanced digital signal processing technology
that overcomes the limitations of existing and emerging 802.xx
wireless standards to deliver drastically increased range, enhance
the ability to operate in non line-of-sight (non-LOS) outdoor
environments, and enable high speed mobility. The company was
founded by, and is led, by pioneers in the field of advanced
iterative receiver design and implementation. The product of
years of research and development at the Institute for Telecommunications
Research at the University of South Australia, the company is
funded by research grants and venture capital investment from
SciVentures Investments, Epicorp Seed Fund, among others.
About SciVentures Investments Pty Ltd.
SciVentures Investments Pty. Ltd. ("SciVentures") is
an Australian-owned and operated funds management company. It was
established in April 2002. To date, SciVentures has operated primarily
in the start-up new business space in a range of high technology
disciplines. SciVentures was a recipient of an Australian Federal
Government license under its Pre-Seed Fund Program.
About Epicorp Seed Fund Pty Ltd
Epicorp has developed a portfolio of high-value Australian information
and communications technology companies. Epicorp is owned by
public institutions including the Commonwealth Scientific and
Industrial Research Organization, Australian National University,
National ICT Australia and the University of Canberra. It manages
a number of funds, primarily through the support of the ICT Incubator
Program (ICTIP) as operated by the Australian Government Department
of Communications, IT and the Arts.
About Mooroolbark Technology Pty Ltd (M-Group)
With offices in Melbourne, Sydney and Washington, the Mooroolbark
Group of companies (M-Group) is a leading "boutique-style" venture
capital investor. M-Group provides equity financing, business
assistance and corporate advisory services to small to medium-sized
Australian and international companies - particularly those with
a desire for growth and expansion. Established in 1997, the M-Group
has concluded many successful investments into Australian and
US companies and has developed a sound reputation as a specialist
investor in ICT, Bio Tech and other market sectors.
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