Altobridge, an Ireland-based wireless network service provider backed by chip maker Intel’s corporate venturing unit, has raised $7.8m to develop its Data at the Edge product providing mobile broadband data optimisation across wireless networks.
Intel Capital and the World Bank’s International Finance Corporation provided the money.
Mike Fitzgerald, chief executive of Altobridge, said: “Since our last funding round, we have expanded rural connectivity in Indonesia, Malaysia, Iraq, Niger and Ghana, while at the same time we have made Data-at-the-Edge a commercial reality. With some industry analysts forecasting a 13-fold increase in global mobile data traffic by 2017, wireless network infrastructures face a major challenge to keep pace with this level of demand.”
In March 2011, Altobridge raised $12m in its series C round from Intel Capital, the corporate venturing unit of semiconductor company Intel, and International Finance Corporation (IFC).