Blinq Networks, a Canada-based wireless equipment company, has raised $7.4m for its series A round after acquiring assets from local peer Nortel Networks and hired Carleton Miller as its executive president.
Venture capital firms New Venture Partners, which specializes in intellectual property (IP)-related spin outs, Summerhill Venture Partners, which span out from local phone operator Bell Canada in 2007, and the Business Development Bank of Canada through its BDC Venture Capital unit provided the A round.
Miller joined Blinq from a role as president of Andrew’s Wireless Network Solutions unit. He said: "This acquisition of IP and assets from Nortel [which filed for bankruptcy in January 2009] will establish Blinq as a pioneer in next-generation backhaul solution that enables mobile network operators to meet the demands of the mobile internet."