Airvine Has Completed a $10 Million Series A Round to Accelerate the Rollout of its Wireless Freeway

SANTA CLARA, Calif., Oct.12, 2022 /PRNewswire/ -- Airvine's mission is to develop an entirely new in-building network architecture that addresses the dynamic nature of today's enterprise. To that end, we have developed the most innovative piece of technology to come along in decades. It enables the network to be as agile, flexible, and adaptable as the business it supports. WaveTunnel™ technology will become Generally Available in Q4 of this year, and the proceeds from this round will be used to ramp up sales, marketing, engineering, and manufacturing. More on the WaveTunnel solution can be found at: https://airvine.com/product/ 

The Series A round raised a total of $10 million and was led by Crosslink Capital with all existing investors participating. Michael Stark, the Founding Partner at Crosslink Capital, will be joining the Airvine Board of Directors.

"We are always on the lookout for early-stage technology companies that are creating category defining products that will transform the IT world. The Airvine vision is especially compelling in this regard, as In-building enterprise networks have seen very little innovation over the last several decades. The situation was ripe for an aggressive new entrant that would tap into the enterprise need for networks that are far more dynamic than what legacy solutions can provide," stated Mr. Stark

During the pilot testing phase, Airvine saw interest from a wide variety of enterprise market verticals including hospitality, MDUs, warehousing, manufacturing, office buildings, and heritage buildings with speed and ease of deployment identified as key advantages. Broadband access was enabled successfully across a wide range of configurations, and in a matter of minutes or hours rather than weeks or months. The system has the bandwidth to easily handle broadband access technologies like Wi-Fi 6E and 7.

"Airvine's timing couldn't be better, we are seeing a major industry transition toward Wi-Fi 6E, and WaveTunnel technology is tailor-made to accelerate that move. It delivers broadband speeds, it's quick and easy to deploy, and very robust. The other major industry trend we are tracking is the Internet-of-things. IOT networks are beginning to dominate in factories and warehouses, and that involves having to add yet another access network for security reasons. We love how easy it is to do this with Airvine technology," said Claus Hetting, CEO of Wi-Fi NOW "Airvine technology is truly a game changer and will completely revolutionize the way indoor networks are deployed"

The Airvine value proposition centers around quick installs in any kind of building, effortless moves, adds, and changes, gigabit/sec data rates, no business disruptions during installs, excels in difficult situations, ideal when you have multiple access networks, and it avoids the large sunk cost of legacy solutions. For more on what others are saying: https://airvine.com/testimonials/

Vivek Ragavan, CEO of Airvine, said "We now have the funding in-place to accelerate our push into enterprise accounts worldwide. This will require that we continue to scale up the entire organization. We are also thrilled with the pace at which channel partners have been flocking to our banner. The future is looking very bright, and we are delighted to have Crosslink Capital as part of the team."

Airvine's mission is to develop an entirely new in-building network architecture that addresses the dynamic nature of the modern enterprise. Our technology leverages the convergence of 60 GHz beamforming technology, with layer 2 switching, and sophisticated software to create a solution that is far more agile, flexible, and adaptable than the legacy solutions of the past. 

Crosslink, founded in 1989, is a Bay Area-based early-stage venture capital firm with over $5B in assets under management. Crosslink partners with founders that are market disruptors and category creators, typically at the Seed through Series A stage, across highly dynamic enterprise and consumer technology sectors. Our investments include Equinix, Pandora, Blue Arc, Coupa, Virage Logic, BetterUp and Chime along with over 300 other companies. For more information visit www.crosslinkcapital.com

SOURCE Airvine

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