AirFiber secures major investment for optical wireless

17 Jun 2002

The US start-up has won USD 50 million in the first closing of its third financing round.

US start-up AirFiber has won USD 50 million in the first closing of its third financing round. AirFiber will use the cash for development, sales and marketing of its optical wireless equipment.

"This financing is a show of support, not only for AirFiber and its advanced products, but for the wireless optical networking market as a whole," said Jim Dunn, AirFiber chief executive officer. "The investment, in addition to our existing OEM distribution agreement with global telecom equipment leader Nortel Networks, reinforces our leadership in the category."

AirFiber's OptiMesh product, which uses free-space optics to provide broadband access, has been shipping for several months. AirFiber was formed in San Diego in 1998.

The funding round, which was led by GM Capital Partners, included London Merchant Securities and several of AirFiber's existing investors.