Federated Wireless Raised 22 Million in Series A for Its Spectrum Access System
Allied Minds, the parent company of Federated Wireless along with Woodford Investment Management lead the Series A funding. As reported Monday, the funding scored a $22 million.
Federated Wireless is a technology company which build an innovative wireless technology based on cloud wireless infrastructure. The company claimed that its dynamic Spectrum Access System (SAS) is able to extend the access of carrier networks, revolutionize the spectrum allocation and management, whilst optimizing it. The technology incorporate neural network of radio sensors which resolve the traditional barriers of high cost and exclusive spectrum.
While its parent company, Allied Minds is a private investment firm, focused on tech startups that developed at research labs in renowned federal labs and universities in the United States. Currently, it has partnership with 33 American universities and 26 U.S. federal government departments.
The Boston-based firm is interested in an attractive risk-return profile companies. Its investment has spanned multiple business sectors from biotechnology, health, hardware and software. Beside Federated Wireless, the firm also has other innovative tech companies as its subsidiaries including Allied Communications, Foreland Technologies, Illumasonix, LuxCath, Optio Labs, SoundCure and Spin Transfer Technologies.
On Monday, Allied Mind and Woodford Investment Management announced to have raised $22 million in Series A funding for Federated Wireles.
CEO of Allied Minds Chris Silva said to PE Hub Network regarding the funding, "Federated Wireless has established itself as a leader in the development of a shared spectrum model which will provide growth opportunities for wireless carriers as well as deliver significant benefits to enterprise users. We are confident that access to low-cost, high-quality spectrum will drive the next wave of growth in unlicensed LTE, similar to the growth of Wi-Fi over the last decade. This successful fundraising will enable Federated Wireless to accelerate the commercialisation of its proven technology."
While Iyad Tarazi, CEO of Federated Wireless told PR Newswire, "We are committed to continuing our leadership in the development of Shared Spectrum technology." He also said regading the technology, "We believe that our Spectrum Access System and broad-based CINQ platform architecture will enable carriers and enterprises to extend wireless networks seamlessly and cost effectively."
According to Broadway World, the fund will be used to complete the certification of Federated Wireless two technologies: Spectrum Access System (SAS) and Environmental Sensor Capability (ESC). The Arlington-based company will also used the fund to develop and field trials its CINQ platform with technology partners, prior to enter the market. The field trials is scheduled in the second half of 2016.
Allied Minds and Woodford Investment Management lead the $22 million Series A funding to Federated Wireless on Monday. With its new investment, Federated Wireless is now valued at $27 million in total equity.