Ranzure Networks, a US-based mobile phone network technology developer, closed a $13m series A round yesterday co-led by telecoms firm Mitel and VC firm LiveOak Venture Partners.
Ranzure is creating technology to enable next-generation, high-speed data transfers over mobile phone networks colloquially known as 5G. The company will license relevant Mitel technology to support the development of such 5G networks focused on the internet of things (IoT).
The cash will go towards product development for service providers as well as R&D. It will also drive recruitment across Ranzure’s sales and operations teams.
Venu Shamapant, co-founder and general partner at LiveOak, will join Ranzure’s board of directors as part of the investment.
Pardeep Kohli, president and CEO of Ranzure Networks, said: “Network densification, IoT, and new spectrum availability will enable applications and devices that will fundamentally transform the way we live and interact with our surroundings.
“The next generation mobile networks are expected to handle much more data volume, connect exponentially more devices, significantly reduce latency and bring new levels of reliability. A flexible radio access network is a key cornerstone for this evolution. Ranzure will bring flexible, virtualised, cloud-based 4G/5G RAN solutions to address the evolving market needs.”