Oct, 2001 : Flarion Raises $45 Million for Mobile Network Technology

📅 October 29, 2001 - Flarion Technologies (flarion.com), the inventor of a newair interface technology for IP-based mobile broadband networks, todayannounced it has received $45 Million in Series B equity financing fromCisco Systems, Nassau Capital and lead investor, Pequot Capital. Also participating in this round were Series A investors Bessemer VenturePartners, Charles River Ventures, and Lucent Technologies' New VenturesGroup.

"Mobile operators continue to struggle with the business case to mobilizethe Internet," said Martin Hale, senior vice president with Pequot Ventures,the venture arm of Pequot Capital Management, Inc. and member of Flarion'sboard of directors. "Flarion has the operational experience, a provenmanagement team and the technology to help mobile operators deliver on aprofitable, mobilized Internet, today."
"With Flarion, mobile operators can now deploy an affordable technology forthe delivery of profitable 'all you can eat' data services to existingcustomers and new markets, for immediate revenue growth," said Ray Dolan,president and CEO of Flarion.
"With the help of our investors, we are confident that Flarion will continueits momentum and deliver on the mobilized Internet business case in 2002."Rajiv Laroia, founder and CTO of Flarion Technologies added, "Flarion'smobile communications network allows users to access the Internet atvehicular speeds, and achieve the same experience as if they were at theirbusiness or home, with no changes to the IP protocol, applications, devices,or content."