Axis Network Technology secures £3m funding from Bessemer Venture Partners

12th February 2008
ES Admin
Axis Network Technology has announced that it has received £3 million in investment from Bessemer Venture Partners, a leading venture capital practice based in the USA.
Axis already has a range of 2.5GHz and 3.5GHz digital radios and modules in production, and is focusing on key emerging markets in WiMAX, 3G (WCDMA and TD-SCDMA) and 4G (3GPP-LTE).

“Bessemer has a long history of making astute investments in this industry sector, having initially funded Maxim and Flarion among other well-known names,” commented Simon Mellor, CEO of Axis. “This investment acknowledges the soundness of our unique business model, which seeks to offer a flexible value-added digital radio product to Tier 1 and 2 wireless OEMs.”

“Axis presented us with a compelling business plan for profitably addressing the needs of the wireless OEMs,” commented Felda Hardymon of Bessemer Venture Partners. Hardymon and his fellow Partner at BVP, Adam Fisher, have joined the Axis board of directors. Fisher commented that “Axis is already showing an impressive level of customer traction, and BVP is excited to work with the team, as the company rapidly becomes the market leader for mobile broadband digital radios.”

Axis aims is to be the leading provider of compact digital radios, using a highly flexible and energy-efficient radio platform. The Company’s products focus on converged base station systems for next generation broadband wireless standards – TD-SCDMA, UMTS, WiMAX, LTE and DVB – and support triple-play and quad-play voice, video and data services. Axis provides fully operational systems direct to OEMs using its combined expertise in RF technology, digital and baseband design experience, together with an established logistics chain that includes circuit manufacture via global EMS and strategic device technology partnerships.

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